Advisors Asset Management Inc. Has $3.81 Million Stock Position in Tortoise Midstream Energy Fund, Inc. (NYSE:NTG)

Advisors Asset Management Inc. cut its holdings in shares of Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,115 shares of the investment management company’s stock after selling 279 shares during the quarter. Advisors Asset Management Inc.’s holdings in Tortoise Midstream Energy Fund were worth $3,808,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC acquired a new position in Tortoise Midstream Energy Fund during the 2nd quarter valued at $216,000. Calamos Advisors LLC lifted its stake in shares of 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 buying an additional 2,360 shares during the period. Meixler Investment Management Ltd. grew its position in Tortoise Midstream Energy Fund by 1.1% during the second quarter. Meixler Investment Management Ltd. now owns 105,958 shares of the investment management company’s stock worth $4,551,000 after buying an additional 1,125 shares in the last quarter. Financial Advocates Investment Management increased its stake in Tortoise Midstream Energy Fund by 1.3% during the second quarter. Financial Advocates Investment Management now owns 20,166 shares of the investment management company’s stock valued at $866,000 after acquiring an additional 259 shares during the period. Finally, Matisse Capital raised its holdings in 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.

Insider Activity

In related news, major shareholder Saba Capital Management, L.P. acquired 4,725 shares of the stock in a transaction dated 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 purchase, the insider now owns 515,767 shares in the company, valued at approximately $23,126,992.28. This trade represents a 0.92 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Tortoise Midstream Energy Fund Price Performance

Shares of NYSE:NTG opened at $57.38 on Friday. The business’s 50 day moving average is $50.76 and its 200-day moving average is $45.26. 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 Announces Dividend

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 $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend is Friday, November 22nd. Tortoise Midstream Energy Fund’s dividend payout ratio (DPR) is presently -10,610.08%.

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.