Salient Midstream & MLP Fund (NYSE:SMM) Short Interest Update

Salient Midstream & MLP Fund (NYSE:SMM) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totalling 48,700 shares, an increase of 350.9% from the March 15th total of 10,800 shares. Based on an average daily volume of 89,200 shares, the days-to-cover ratio is presently 0.5 days.

Shares of Salient Midstream & MLP Fund stock traded up $0.04 during midday trading on Wednesday, reaching $5.16. 105,363 shares of the company’s stock traded hands, compared to its average volume of 94,624. Salient Midstream & MLP Fund has a 12 month low of $3.21 and a 12 month high of $5.28. The stock has a 50 day moving average of $5.05 and a 200-day moving average of $4.48.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 25th. Stockholders of record on Wednesday, February 17th were given a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, February 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.65%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Matisse Capital raised its holdings in Salient Midstream & MLP Fund by 2,435.8% during the 4th quarter. Matisse Capital now owns 552,800 shares of the investment management company’s stock valued at $2,360,000 after buying an additional 531,000 shares during the period. Quantedge Capital Pte Ltd purchased a new position in Salient Midstream & MLP Fund during the fourth quarter valued at approximately $1,023,000. RMB Capital Management LLC raised its position in Salient Midstream & MLP Fund by 26.4% during the fourth quarter. RMB Capital Management LLC now owns 228,880 shares of the investment management company’s stock valued at $977,000 after acquiring an additional 47,809 shares in the last quarter. Merriman Wealth Management LLC grew its holdings in Salient Midstream & MLP Fund by 46.7% in the fourth quarter. Merriman Wealth Management LLC now owns 118,182 shares of the investment management company’s stock valued at $505,000 after purchasing an additional 37,640 shares during the period. Finally, 6 Meridian boosted its stake in shares of Salient Midstream & MLP Fund by 11.0% in the fourth quarter. 6 Meridian now owns 95,597 shares of the investment management company’s stock worth $408,000 after acquiring an additional 9,510 shares during the last quarter.

About Salient Midstream & MLP Fund

Salient Midstream & MLP Fund is a closed ended equity mutual fund launched and managed by Salient Capital Advisors, LLC. The fund invests in the public equity markets of the United States. It invests in stocks of companies operating in the energy sector, including transporting, storing, gathering, processing, distributing, marketing and/or delivering natural gas, natural gas liquids, crude oil or refined products or coal.

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