Financial Advocates Investment Management Sells 1,368 Shares of Tortoise Midstream Energy Fund, Inc. (NYSE:NTG)

Financial Advocates Investment Management reduced its position in Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) by 6.8% in the third quarter, Holdings Channel.com reports. The fund owned 18,798 shares of the investment management company’s stock after selling 1,368 shares during the quarter. Financial Advocates Investment Management’s holdings in Tortoise Midstream Energy Fund were worth $893,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NTG. Matisse Capital raised its stake in Tortoise Midstream Energy Fund by 7.0% in the second quarter. Matisse Capital now owns 6,655 shares of the investment management company’s stock valued at $286,000 after purchasing an additional 435 shares in the last quarter. Private Advisor Group LLC raised its stake in 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 in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in 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 valued at $43,000 after purchasing an additional 975 shares in the last quarter. Moors & Cabot Inc. raised its stake in Tortoise Midstream Energy Fund by 13.3% in the second quarter. Moors & Cabot Inc. now owns 8,500 shares of the investment management company’s stock valued at $365,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Meixler Investment Management Ltd. raised its stake in Tortoise Midstream Energy Fund by 1.1% in the second quarter. Meixler Investment Management Ltd. now owns 105,958 shares of the investment management company’s stock valued at $4,551,000 after purchasing an additional 1,125 shares in the last quarter.

Insiders Place Their Bets

In other Tortoise Midstream Energy Fund news, major shareholder Saba Capital Management, L.P. purchased 4,725 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were purchased at an average cost of $44.84 per share, with a total value of $211,869.00. Following the completion of the purchase, the insider now owns 515,767 shares of the company’s stock, valued at $23,126,992.28. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Tortoise Midstream Energy Fund Stock Down 0.8 %

Shares of NTG opened at $49.99 on Friday. The firm’s 50 day simple moving average is $47.96 and its 200 day simple moving average is $43.59. Tortoise Midstream Energy Fund, Inc. has a 1-year low of $32.70 and a 1-year high of $50.81.

Tortoise Midstream Energy Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 23rd were paid a $0.81 dividend. This is an increase from Tortoise Midstream Energy Fund’s previous quarterly dividend of $0.77. This represents a $3.24 dividend on an annualized basis and a yield of 6.48%. The ex-dividend date of this dividend was Friday, August 23rd. Tortoise Midstream Energy Fund’s dividend payout ratio (DPR) is currently -10,475.77%.

Tortoise Midstream Energy Fund 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.