Bayshore Asset Management LLC Acquires Shares of 10,904 Tortoise Midstream Energy Fund, Inc. (NYSE:NTG)

Bayshore Asset Management LLC acquired a new stake in shares of Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,904 shares of the investment management company’s stock, valued at approximately $518,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in Tortoise Midstream Energy Fund by 3,900.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,000 shares of the investment management company’s stock valued at $43,000 after buying an additional 975 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Tortoise Midstream Energy Fund during the second quarter worth about $216,000. Everett Harris & Co. CA bought a new stake in shares of Tortoise Midstream Energy Fund in the first quarter worth about $203,000. Matisse Capital bought a new position in Tortoise Midstream Energy Fund during the 1st quarter valued at approximately $238,000. Finally, Moors & Cabot Inc. lifted its holdings in Tortoise Midstream Energy Fund by 13.3% in the 2nd quarter. Moors & Cabot Inc. now owns 8,500 shares of the investment management company’s stock worth $365,000 after buying an additional 1,000 shares during the period.

Tortoise Midstream Energy Fund Price Performance

NTG opened at $50.45 on Tuesday. The stock’s 50 day moving average price is $46.90 and its 200-day moving average price is $42.92. Tortoise Midstream Energy Fund, Inc. has a 52-week low of $32.56 and a 52-week high of $50.79.

Tortoise Midstream Energy Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.81 per share. This is an increase from Tortoise Midstream Energy Fund’s previous quarterly dividend of $0.77. The ex-dividend date was Friday, August 23rd. This represents a $3.24 dividend on an annualized basis and a dividend yield of 6.42%. Tortoise Midstream Energy Fund’s dividend payout ratio is -10,475.77%.

Insider Activity at Tortoise Midstream Energy Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 4,725 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was acquired at an average price of $44.84 per share, for a total transaction of $211,869.00. Following the completion of the acquisition, the insider now owns 515,767 shares in the company, valued at $23,126,992.28. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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.