Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) Major Shareholder Purchases $211,869.00 in Stock

Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) major shareholder Saba Capital Management, L.P. purchased 4,725 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was purchased at an average price of $44.84 per share, for a total transaction of $211,869.00. Following the completion of the acquisition, the insider now owns 515,767 shares of the company’s stock, valued at $23,126,992.28. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Tortoise Midstream Energy Fund Stock Performance

Shares of Tortoise Midstream Energy Fund stock opened at $45.27 on Friday. The stock’s 50-day moving average is $43.61 and its 200-day moving average is $40.34. Tortoise Midstream Energy Fund, Inc. has a one year low of $31.54 and a one year high of $45.56.

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 issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 7.16%. This is a positive change from Tortoise Midstream Energy Fund’s previous quarterly dividend of $0.77. The ex-dividend date was Friday, August 23rd. Tortoise Midstream Energy Fund’s payout ratio is -10,475.77%.

Institutional Trading of Tortoise Midstream Energy Fund

A number of institutional investors have recently modified their holdings of the company. Financial Advocates Investment Management raised its holdings 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 worth $866,000 after acquiring an additional 259 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Tortoise Midstream Energy Fund by 3.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 10,400 shares of the investment management company’s stock worth $362,000 after acquiring an additional 375 shares in the last quarter. Matisse Capital raised its holdings in Tortoise Midstream Energy Fund by 7.0% during the second quarter. Matisse Capital now owns 6,655 shares of the investment management company’s stock worth $286,000 after acquiring an additional 435 shares in the last quarter. Principal Securities Inc. bought a new stake in Tortoise Midstream Energy Fund during the fourth quarter worth about $32,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings 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.

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.