Concorde Asset Management LLC Grows Stock Position in Tortoise Midstream Energy Fund, Inc. (NYSE:NTG)

Concorde Asset Management LLC lifted its stake in Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) by 11.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,000 shares of the investment management company’s stock after purchasing an additional 1,300 shares during the period. Concorde Asset Management LLC’s holdings in Tortoise Midstream Energy Fund were worth $618,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NTG. Northwestern Mutual Wealth Management Co. boosted its holdings 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 during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Tortoise Midstream Energy Fund in the second quarter valued at $216,000. Matisse Capital boosted its holdings 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 during the period. Moors & Cabot Inc. boosted its holdings 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 during the period. Finally, Calamos Advisors LLC boosted its holdings in Tortoise Midstream Energy Fund by 33.7% in the second quarter. Calamos Advisors LLC now owns 9,366 shares of the investment management company’s stock valued at $402,000 after purchasing an additional 2,360 shares during the period.

Tortoise Midstream Energy Fund Stock Up 2.7 %

Shares of NYSE NTG opened at $57.53 on Friday. The business has a 50-day moving average of $50.54 and a two-hundred day moving average of $45.13. Tortoise Midstream Energy Fund, Inc. has a 1 year low of $32.70 and a 1 year high of $57.74.

Tortoise Midstream Energy Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date is Friday, November 22nd. Tortoise Midstream Energy Fund’s dividend payout ratio (DPR) is -10,610.08%.

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 stock was bought at an average cost of $44.84 per share, with a total value of $211,869.00. Following the acquisition, the insider now directly owns 515,767 shares of the company’s stock, valued at approximately $23,126,992.28. This represents a 0.92 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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.