Salient Midstream & MLP Fund (NYSE:SMM) Stock Passes Above 50 Day Moving Average of $8.08

Salient Midstream & MLP Fund (NYSE:SMM)’s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $8.08 and traded as high as $7.65. Salient Midstream & MLP Fund shares last traded at $7.58, with a volume of 3,269 shares traded.

The company’s 50 day moving average is $8.05 and its 200 day moving average is $8.66.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Friday, August 16th were paid a dividend of $0.171 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.68 annualized dividend and a yield of 9.00%.

A number of large investors have recently made changes to their positions in the stock. 6 Meridian raised its stake in Salient Midstream & MLP Fund by 6.0% during the 2nd quarter. 6 Meridian now owns 28,961 shares of the investment management company’s stock worth $249,000 after acquiring an additional 1,627 shares in the last quarter. Private Advisor Group LLC raised its stake in Salient Midstream & MLP Fund by 92.1% during the 2nd quarter. Private Advisor Group LLC now owns 117,471 shares of the investment management company’s stock worth $1,009,000 after acquiring an additional 56,328 shares in the last quarter. Kayne Anderson Capital Advisors LP raised its stake in Salient Midstream & MLP Fund by 215.8% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 126,300 shares of the investment management company’s stock worth $1,084,000 after acquiring an additional 86,300 shares in the last quarter. Finally, Zazove Associates LLC raised its stake in Salient Midstream & MLP Fund by 2,227.1% during the 2nd quarter. Zazove Associates LLC now owns 1,655,000 shares of the investment management company’s stock worth $611,000 after acquiring an additional 1,583,880 shares in the last quarter.

Salient Midstream & MLP Fund Company Profile (NYSE:SMM)

Salient Midstream & MLP Fund is a closed ended equity mutual fund launched and managed by Salient Capital Advisors, LLC. The fund invests in the public equity markets of the United States. It invests in stocks of companies operating in the energy sector, including transporting, storing, gathering, processing, distributing, marketing and/or delivering natural gas, natural gas liquids, crude oil or refined products or coal.

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