Tortoise Midstream Energy Fund (NYSE:NTG) Stock Crosses Above 200 Day Moving Average – Here’s Why

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $49.05 and traded as high as $53.44. Tortoise Midstream Energy Fund shares last traded at $53.36, with a volume of 24,436 shares traded.

Tortoise Midstream Energy Fund Price Performance

The business has a 50 day moving average price of $54.64 and a 200 day moving average price of $49.11.

Tortoise Midstream Energy Fund Dividend Announcement

The company also recently announced a — dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, December 6th were issued a $0.53 dividend. The ex-dividend date was Friday, December 6th. This represents a yield of 5.5%. Tortoise Midstream Energy Fund’s dividend payout ratio (DPR) is presently -10,610.08%.

Hedge Funds Weigh In On Tortoise Midstream Energy Fund

Several institutional investors and hedge funds have recently made changes to their positions in NTG. Private Advisor Group LLC lifted its holdings in Tortoise Midstream Energy Fund by 4.3% during the third quarter. Private Advisor Group LLC now owns 12,613 shares of the investment management company’s stock worth $599,000 after acquiring an additional 515 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Tortoise Midstream Energy Fund by 3,900.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the investment management company’s stock worth $43,000 after acquiring an additional 975 shares in the last quarter. Almitas Capital LLC raised its position in shares of Tortoise Midstream Energy Fund by 34.7% during the second quarter. Almitas Capital LLC now owns 180,717 shares of the investment management company’s stock worth $7,762,000 after purchasing an additional 46,578 shares during the period. Concorde Asset Management LLC bought a new position in shares of Tortoise Midstream Energy Fund during the 2nd quarter valued at about $503,000. Finally, Ariadne Wealth Management LP acquired a new position in shares of Tortoise Midstream Energy Fund in the 2nd quarter valued at approximately $452,000.

About Tortoise Midstream Energy Fund

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.