Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) Short Interest Down 61.4% in July

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) was the target of a significant decrease in short interest during the month of July. As of July 15th, there was short interest totalling 5,400 shares, a decrease of 61.4% from the June 30th total of 14,000 shares. Based on an average daily volume of 13,300 shares, the days-to-cover ratio is presently 0.4 days.

Tortoise Midstream Energy Fund Price Performance

Shares of NTG traded down $0.50 during mid-day trading on Thursday, hitting $42.85. 6,242 shares of the company traded hands, compared to its average volume of 13,256. Tortoise Midstream Energy Fund has a one year low of $31.54 and a one year high of $44.95. The business has a 50-day moving average of $41.50 and a 200 day moving average of $38.45.

Tortoise Midstream Energy Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 24th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $3.08 annualized dividend and a dividend yield of 7.19%. Tortoise Midstream Energy Fund’s dividend payout ratio (DPR) is currently -10,341.47%.

Institutional Trading of Tortoise Midstream Energy Fund

Hedge funds have recently modified their holdings of the stock. Blue Bell Private Wealth Management LLC bought a new position in Tortoise Midstream Energy Fund in the fourth quarter valued at approximately $45,000. NewEdge Wealth LLC acquired a new stake in Tortoise Midstream Energy Fund in the fourth quarter worth $337,000. Wolverine Asset Management LLC raised its holdings in Tortoise Midstream Energy Fund by 194.9% in the fourth quarter. Wolverine Asset Management LLC now owns 46,852 shares of the investment management company’s stock worth $1,629,000 after purchasing an additional 30,965 shares during the period. Meixler Investment Management Ltd. raised its holdings in Tortoise Midstream Energy Fund by 17.9% in the fourth quarter. Meixler Investment Management Ltd. now owns 94,616 shares of the investment management company’s stock worth $3,289,000 after purchasing an additional 14,394 shares during the period. Finally, Principal Securities Inc. acquired a new stake in shares of Tortoise Midstream Energy Fund during the fourth quarter worth $32,000.

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.