Financial Advocates Investment Management Lowers Stock Position in Tortoise Midstream Energy Fund, Inc. (NYSE:NTG)

Financial Advocates Investment Management lowered its position in Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) by 6.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,798 shares of the investment management company’s stock after selling 1,368 shares during the period. Financial Advocates Investment Management’s holdings in Tortoise Midstream Energy Fund were worth $893,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Tortoise Midstream Energy Fund by 274.6% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 18,799 shares of the investment management company’s stock valued at $894,000 after purchasing an additional 13,781 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Tortoise Midstream Energy Fund by 4.3% in the third quarter. Private Advisor Group LLC now owns 12,613 shares of the investment management company’s stock valued at $599,000 after purchasing an additional 515 shares during the last quarter. Bayshore Asset Management LLC purchased a new stake in shares of Tortoise Midstream Energy Fund in the third quarter valued at about $518,000. Allspring Global Investments Holdings LLC grew its position in Tortoise Midstream Energy Fund by 17.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 13,223 shares of the investment management company’s stock valued at $628,000 after buying an additional 1,994 shares during the period. Finally, Ariadne Wealth Management LP bought a new position in Tortoise Midstream Energy Fund during the second quarter valued at about $452,000.

Tortoise Midstream Energy Fund Stock Performance

NTG opened at $49.99 on Friday. The firm has a 50-day moving average of $47.96 and a 200 day moving average of $43.59. Tortoise Midstream Energy Fund, Inc. has a fifty-two week low of $32.70 and a fifty-two week high of $50.81.

Tortoise Midstream Energy Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $3.24 annualized dividend and a yield of 6.48%. This is a positive change from Tortoise Midstream Energy Fund’s previous quarterly dividend of $0.77. Tortoise Midstream Energy Fund’s dividend payout ratio is presently -10,475.77%.

Insider Activity at Tortoise Midstream Energy Fund

In related news, major shareholder Saba Capital Management, L.P. purchased 4,725 shares of Tortoise Midstream Energy Fund stock in a transaction that occurred on Friday, August 30th. The stock was bought at an average price of $44.84 per share, for a total transaction of $211,869.00. Following the completion of the transaction, the insider now owns 515,767 shares in the company, valued at $23,126,992.28. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Tortoise Midstream Energy Fund Company Profile

Tortoise MLP Fund, Inc is a close ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC It invests in public equity markets. The fund primarily invests in equity securities of MLPs and their affiliates, with an emphasis on natural gas infrastructure Master Limited Partnerships.