Salient Midstream & MLP Fund (NYSE:SMM) Stock Price Crosses Above the 50-Day Moving Average of $7.84


Salient Midstream & MLP Fund (NYSE:SMM – Get Rating) stock price rose above its 50-day moving average during Monday’s trading. The stock has a 50-day moving average of $7.84 and is trading as low as $7.90. Shares of the Salient Midstream & MLP Fund last traded at $7.87, with a volume of 39,052 shares traded.

Salient Midstream & MLP Fund trades up 4.0%

The company’s fifty-day moving average price is $7.84 and its 200-day moving average price is $7.77.

Salient Midstream & MLP Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 27. Shareholders of record on Thursday, May 19 received a dividend of $0.087 per share. The ex-dividend date was Wednesday, May 18. This represents an annualized dividend of $0.35 and a dividend yield of 4.42%.

Insider Trading at Salient Midstream & MLP Fund

In related news, major shareholder Saba Capital Management, LP acquired 20,000 shares of the company in a transaction dated Thursday, May 5. The shares were purchased at an average price of $8.35 per share, for a total transaction of $167,000.00. Following the acquisition, the insider now owns 3,767,363 shares of the company, valued at approximately $31,457,481.05. The transaction was disclosed in a legal filing with the SEC, which is available via this hyperlink. In the past 90 days, insiders have purchased 375,944 shares of the company worth $3,237,656.

Salient Midstream & MLP Fund Institutional Trading

Institutional investors have recently changed their positions in the company. Bulldog Investors LLP acquired a new stake in shares of Salient Midstream & MLP Fund during Q4, valued at approximately $103,000. Hightower 6M Holding LLC acquired a new equity stake in Salient Midstream & MLP Fund during Q1 valued at approximately $196,000. Karpus Management Inc. acquired a new stake in shares of Salient Midstream & MLP Fund during Q1 worth approximately $218,000. Boenning & Scattergood Inc. acquired a new stake in shares of Salient Midstream & MLP Fund during Q2, valued at approximately $202,000. Finally, First Trust Advisors LP acquired a new equity stake in Salient Midstream & MLP Fund during Q1 valued at approximately $236,000.

About Salient Midstream & MLP Fund

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Salient Midstream & MLP Fund is a closed-end equity mutual fund launched and managed by Salient Capital Advisors, LLC. The fund invests in US stock markets. It invests in shares of companies operating in the energy sector, including the transportation, storage, gathering, processing, distribution, marketing and/or delivery of natural gas, natural gas liquids, crude oil or refined products or coal.

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Eleanor C. William