Kayne Anderson Energy Development Co. (KED) Sees Large Volume Increase
Shares of Kayne Anderson Energy Development Co. (NYSE:KED) saw unusually-high trading volume on Friday . Approximately 111,504 shares traded hands during trading, an increase of 96% from the previous session’s volume of 57,003 shares.The stock last traded at $18.39 and had previously closed at $17.90.
Separately, Zacks Investment Research raised shares of Kayne Anderson Energy Development from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Wednesday, June 29th.
The company has a 50 day moving average of $18.35 and a 200 day moving average of $16.72.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Friday, July 8th were issued a dividend of $0.48 per share. The ex-dividend date was Wednesday, July 6th. This represents a $1.92 annualized dividend and a yield of 10.44%.
Kayne Anderson Energy Development Company is a non-diversified, closed-end fund. The Fund’s investment objective is to generate both current income and capital appreciation primarily through equity and debt investments. It seeks to achieve this objective by investing approximately 80% of its total assets in securities of companies that derive their revenue from activities in the energy industry, including Upstream Energy Companies, which are engaged in the exploration, extraction and production of natural resources, including natural gas and gas liquids and crude oil, from geological reservoirs; Midstream Energy Companies, which are businesses that operate assets used to gather, transport, process, treat, terminal and store natural gas, natural gas liquids, propane, crude oil or refined petroleum products, and Other Energy Companies, which are businesses engaged in owning, producing, processing and selling of coal and coal reserves.