Tortoise Midstream Energy Fund (NYSE:NTG) Shares Cross Above 200 Day Moving Average – Time to Sell?

Shares of Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $44.85 and traded as high as $55.50. Tortoise Midstream Energy Fund shares last traded at $55.35, with a volume of 13,773 shares.

Tortoise Midstream Energy Fund Stock Performance

The business has a 50 day simple moving average of $50.30 and a 200 day simple moving average of $45.05.

Tortoise Midstream Energy Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 22nd will be given a $0.81 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $3.24 annualized dividend and a dividend yield of 5.78%. Tortoise Midstream Energy Fund’s dividend payout ratio is currently -10,610.08%.

Insider Transactions at Tortoise Midstream Energy Fund

In related news, major shareholder Saba Capital Management, L.P. bought 4,725 shares of the business’s stock in a transaction on Friday, August 30th. The shares were bought at an average cost of $44.84 per share, for a total transaction of $211,869.00. Following the completion of the acquisition, the insider now directly owns 515,767 shares in the company, valued at approximately $23,126,992.28. This represents a 0.92 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Tortoise Midstream Energy Fund

Hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its stake in Tortoise Midstream Energy Fund by 3,900.0% during 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. Quarry LP bought a new stake in Tortoise Midstream Energy Fund during the 3rd quarter worth approximately $73,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Tortoise Midstream Energy Fund during the 2nd quarter valued at $216,000. Matisse Capital raised its holdings in shares of Tortoise Midstream Energy Fund by 7.0% in the 2nd quarter. Matisse Capital now owns 6,655 shares of the investment management company’s stock valued at $286,000 after acquiring an additional 435 shares in the last quarter. Finally, Moors & Cabot Inc. boosted its position in shares of Tortoise Midstream Energy Fund by 13.3% during the 2nd quarter. Moors & Cabot Inc. now owns 8,500 shares of the investment management company’s stock valued at $365,000 after acquiring an additional 1,000 shares during the last quarter.

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.