NXG NextGen Infrastructure Income Fund (NYSE:NXG) Stock Short Interest Climbs 60.6%

NXG NextGen Infrastructure Income Fund (NYSE:NXG – Get Free Report) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totaling 156,151 shares, an increase of 60.6% from the September 30th total of 97,209 shares. Based on an average daily trading volume, of 59,607 shares, the days-to-cover ratio is currently 2.6 days.

Insider Buying and Selling at NXG NextGen Infrastructure Income Fund

In related news, Portfolio Manager Todd Sunderland acquired 1,000 shares of the firm’s stock in a transaction dated Monday, October 19th. The shares were purchased at an average price of $46.50 per share, for a total transaction of $46,500.00. Following the completion of the acquisition, the portfolio manager owned 4,283 shares in the company, valued at approximately $199,159.50. This represents a 30.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Jerry V. Swank acquired 10,000 shares of the stock in a transaction on Friday, October 23rd. The stock was bought at an average price of $43.95 per share, with a total value of $439,500.00. Following the transaction, the insider directly owned 55,200 shares of the company’s stock, valued at approximately $2,426,040. The trade was a 22.12% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 11,900 shares of company stock valued at $525,582 over the last ninety days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NXG. SeaCrest Wealth Management LLC grew its position in shares of NXG NextGen Infrastructure Income Fund by 8.5% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 3,741 shares of the company’s stock valued at $203,000 after acquiring an additional 293 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in NXG NextGen Infrastructure Income Fund in the 2nd quarter worth $57,000. Janney Montgomery Scott LLC raised its holdings in NXG NextGen Infrastructure Income Fund by 1.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 70,070 shares of the company’s stock worth $3,849,000 after purchasing an additional 1,167 shares during the period. CoreCap Advisors LLC lifted its position in NXG NextGen Infrastructure Income Fund by 5.0% during the third quarter. CoreCap Advisors LLC now owns 61,418 shares of the company’s stock valued at $3,340,000 after purchasing an additional 2,908 shares in the last quarter. Finally, Aristides Capital LLC purchased a new position in NXG NextGen Infrastructure Income Fund during the first quarter valued at $231,000.

NXG NextGen Infrastructure Income Fund Stock Up 1.3%

NXG NextGen Infrastructure Income Fund stock traded up $0.62 during mid-day trading on Tuesday, reaching $47.47. 18,659 shares of the company traded hands, compared to its average volume of 83,343. NXG NextGen Infrastructure Income Fund has a 52-week low of $42.80 and a 52-week high of $65.78. The firm’s 50 day moving average price is $53.48 and its 200 day moving average price is $55.70.

NXG NextGen Infrastructure Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be issued a $0.60 dividend. This represents a $7.20 dividend on an annualized basis and a yield of 15.2%. The ex-dividend date is Monday, November 16th. NXG NextGen Infrastructure Income Fund’s dividend payout ratio is -3,075.00%.

About NXG NextGen Infrastructure Income Fund

(Get Free Report)

NXG NextGen Infrastructure Income Fund is a publicly traded closed-end investment fund listed on the New York Stock Exchange. Rather than operating a conventional business, the fund invests in a portfolio of companies involved in infrastructure and related industries.

The fund seeks to provide investors with a high level of current income along with long-term capital appreciation. Its investments may include equity and income-producing securities issued by companies associated with energy, utilities, transportation, communications, industrial infrastructure and other essential infrastructure activities.

NXG may invest across multiple geographic regions and industry segments, giving shareholders exposure to infrastructure businesses that support the movement of energy, goods, information and other essential services.

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