NXG NextGen Infrastructure Income Fund (NYSE:NXG – Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 375,096 shares, an increase of 2,683.6% from the March 15th total of 13,475 shares. Based on an average daily volume of 92,757 shares, the short-interest ratio is currently 4.0 days.
Insider Activity
In other NXG NextGen Infrastructure Income Fund news, COO Todd Sunderland bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 10th. The shares were purchased at an average price of $52.66 per share, with a total value of $105,320.00. Following the completion of the acquisition, the chief operating officer directly owned 2,409 shares of the company’s stock, valued at $126,857.94. This represents a 489.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have acquired 2,555 shares of company stock worth $134,072.
Hedge Funds Weigh In On NXG NextGen Infrastructure Income Fund
Several hedge funds have recently added to or reduced their stakes in NXG. Ausdal Financial Partners Inc. grew its stake in NXG NextGen Infrastructure Income Fund by 1.9% during the 2nd quarter. Ausdal Financial Partners Inc. now owns 25,573 shares of the company’s stock worth $1,286,000 after buying an additional 482 shares during the last quarter. Valeo Financial Advisors LLC increased its position in NXG NextGen Infrastructure Income Fund by 63.3% during the second quarter. Valeo Financial Advisors LLC now owns 16,069 shares of the company’s stock worth $808,000 after buying an additional 6,227 shares during the period. CoreCap Advisors LLC lifted its stake in NXG NextGen Infrastructure Income Fund by 10.9% in the third quarter. CoreCap Advisors LLC now owns 44,590 shares of the company’s stock valued at $2,174,000 after buying an additional 4,370 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in NXG NextGen Infrastructure Income Fund in the third quarter valued at approximately $240,000. Finally, J.W. Cole Advisors Inc. boosted its holdings in shares of NXG NextGen Infrastructure Income Fund by 7.3% in the third quarter. J.W. Cole Advisors Inc. now owns 37,053 shares of the company’s stock valued at $1,806,000 after acquiring an additional 2,507 shares during the period.
NXG NextGen Infrastructure Income Fund Stock Down 2.4%
NXG NextGen Infrastructure Income Fund Dividend Announcement
The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 15th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, May 15th. This represents a c) annualized dividend and a yield of 12.1%. NXG NextGen Infrastructure Income Fund’s payout ratio is presently -2,700.00%.
About NXG NextGen Infrastructure Income Fund
NextGen Infrastructure Income Fund (NYSE: NXG) is a closed-end management investment company that seeks to provide shareholders with high current income and, to a lesser extent, capital appreciation by investing primarily in infrastructure-related assets. The fund’s portfolio typically includes debt and equity securities issued by companies operating in energy, utilities, transportation and communications infrastructure sectors. NXG’s investment strategy blends fixed income instruments—such as corporate bonds and preferred stock—with select equity holdings to build a diversified income-oriented portfolio.
To pursue its objectives, NXG combines thorough credit analysis and sector allocation with active risk management.
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