Short Interest in Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) Drops By 52.4%

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) was the recipient of a large decline in short interest in the month of November. As of November 15th, there was short interest totalling 2,000 shares, a decline of 52.4% from the October 31st total of 4,200 shares. Based on an average daily trading volume, of 11,800 shares, the days-to-cover ratio is presently 0.2 days.

Tortoise Midstream Energy Fund Price Performance

NTG opened at $56.93 on Thursday. The stock’s 50-day moving average price is $51.12 and its 200 day moving average price is $45.58. Tortoise Midstream Energy Fund has a 12-month low of $32.70 and a 12-month high of $57.74.

Tortoise Midstream Energy Fund Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, December 6th will be given a dividend of $0.53 per share. The ex-dividend date is Friday, December 6th. This represents a dividend yield of 5.5%. Tortoise Midstream Energy Fund’s dividend payout ratio is presently -10,610.08%.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. bought 4,725 shares of the company’s stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average price of $44.84 per share, for a total transaction of $211,869.00. Following the acquisition, the insider now owns 515,767 shares of the company’s stock, valued at approximately $23,126,992.28. This trade represents a 0.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Private Advisor Group LLC lifted its holdings in Tortoise Midstream Energy Fund by 4.3% during the 3rd quarter. Private Advisor Group LLC now owns 12,613 shares of the investment management company’s stock worth $599,000 after buying an additional 515 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake 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 valued at $43,000 after acquiring an additional 975 shares in the last quarter. Almitas Capital LLC boosted its holdings in Tortoise Midstream Energy Fund by 34.7% in the second quarter. Almitas Capital LLC now owns 180,717 shares of the investment management company’s stock valued at $7,762,000 after purchasing an additional 46,578 shares during the period. Concorde Asset Management LLC acquired a new position in Tortoise Midstream Energy Fund during the 2nd quarter worth $503,000. Finally, Financial Advocates Investment Management grew its stake in Tortoise Midstream Energy Fund by 1.3% during the 2nd quarter. Financial Advocates Investment Management now owns 20,166 shares of the investment management company’s stock worth $866,000 after purchasing an additional 259 shares in the last quarter.

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.