Wolverine Asset Management LLC lessened its holdings in shares of Tortoise Midstream Energy Fund, Inc. (NYSE:NTG – Free Report) by 58.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 39,384 shares of the investment management company’s stock after selling 56,080 shares during the period. Wolverine Asset Management LLC’s holdings in Tortoise Midstream Energy Fund were worth $1,692,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of NTG. Principal Securities Inc. bought a new position in shares of Tortoise Midstream Energy Fund in the 4th quarter worth $32,000. Everett Harris & Co. CA bought a new position in Tortoise Midstream Energy Fund during the first quarter worth about $203,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Tortoise Midstream Energy Fund during the 2nd quarter worth about $216,000. Matisse Capital bought a new stake in shares of Tortoise Midstream Energy Fund in the 1st quarter valued at about $238,000. Finally, Kercheville Advisors LLC bought a new stake in shares of Tortoise Midstream Energy Fund in the 1st quarter valued at about $343,000.
Insider Activity
In other Tortoise Midstream Energy Fund news, major shareholder Saba Capital Management, L.P. purchased 4,725 shares of the stock in a transaction on Friday, August 30th. The stock was 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 of the company’s stock, valued at $23,126,992.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Tortoise Midstream Energy Fund Price Performance
Tortoise Midstream Energy Fund Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 23rd were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 7.24%. This is a boost from Tortoise Midstream Energy Fund’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend was Friday, August 23rd. Tortoise Midstream Energy Fund’s dividend payout ratio (DPR) is currently -10,475.77%.
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.
See Also
- Five stocks we like better than Tortoise Midstream Energy Fund
- Consumer Discretionary Stocks Explained
- Nordstrom’s Winning Formula: 3 Factors Behind the Stock’s Success
- What Makes a Stock a Good Dividend Stock?
- How to See Stocks the Way Warren Buffett Sees Stocks
- What Investors Need to Know About Upcoming IPOs
- 3 No-Brainer Stocks to Buy and Hold Long-Term
Want to see what other hedge funds are holding NTG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tortoise Midstream Energy Fund, Inc. (NYSE:NTG – Free Report).
Receive News & Ratings for Tortoise Midstream Energy Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tortoise Midstream Energy Fund and related companies with MarketBeat.com's FREE daily email newsletter.