NXG NextGen Infrastructure Income Fund (NYSE:NXG) Trading Up 4.6% – Time to Buy?

NXG NextGen Infrastructure Income Fund (NYSE:NXG)’s share price was up 4.6% during mid-day trading on Wednesday . The stock traded as high as $46.35 and last traded at $45.84. Approximately 52,219 shares changed hands during trading, an increase of 70% from the average daily volume of 30,807 shares. The stock had previously closed at $43.84.

NXG NextGen Infrastructure Income Fund Trading Up 4.6 %

The company has a 50-day moving average price of $42.55 and a 200-day moving average price of $40.98.

NXG NextGen Infrastructure Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.54 per share. The ex-dividend date is Friday, November 15th. This represents a $6.48 annualized dividend and a dividend yield of 14.14%. NXG NextGen Infrastructure Income Fund’s payout ratio is currently -2,700.00%.

Insider Transactions at NXG NextGen Infrastructure Income Fund

In other news, insider John Alban sold 1,234 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $41.34, for a total transaction of $51,013.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hedge Funds Weigh In On NXG NextGen Infrastructure Income Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Oppenheimer & Co. Inc. acquired a new position in shares of NXG NextGen Infrastructure Income Fund in the 3rd quarter valued at approximately $202,000. Private Advisor Group LLC bought a new stake in NXG NextGen Infrastructure Income Fund in the 3rd quarter valued at approximately $329,000. J.W. Cole Advisors Inc. bought a new stake in NXG NextGen Infrastructure Income Fund in the 3rd quarter valued at approximately $671,000. Valeo Financial Advisors LLC bought a new stake in NXG NextGen Infrastructure Income Fund in the 3rd quarter valued at approximately $294,000. Finally, Alpine Global Management LLC lifted its stake in NXG NextGen Infrastructure Income Fund by 63.6% in the 1st quarter. Alpine Global Management LLC now owns 16,000 shares of the company’s stock valued at $622,000 after acquiring an additional 6,219 shares in the last quarter.

NXG NextGen Infrastructure Income Fund Company Profile

NXG NextGen Infrastructure Income Fund is a closed ended equity mutual fund launched and managed by Cushing MLP Asset Management, LP. The fund invests in stocks of companies across the energy supply chain spectrum, including upstream, midstream and downstream energy companies, as well as oil and gas services and logistics companies, energy-intensive chemical, metal and industrial and manufacturing companies and engineering and construction companies.