NXG Cushing Midstream Energy Fund (N:SRV)
Business Focus: Closed End Funds
| Sector: Financials | Industry: Closed End Funds |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 300 CRESCENT COURT, SUITE 1700 DALLAS TX 75201 |
| Tel: | N/A |
| Website: | https://www.cushingcef.com/the-cushing-mlp-total-fund-return |
| IR: | See website |
| Key People | ||
| Brian R. Bruce Chairman of the Board, Independent Trustee | Mark Rhodes President, Chief Executive Officer | Blake R. Nelson Chief Financial Officer, Treasurer | Matthew J. Calabro Chief Compliance Officer |
| Business Overview |
| NXG Cushing Midstream Energy Fund, formerly The Cushing MLP & Infrastructure Total Return Fund, is a non-diversified, closed-end management investment company. The Fund's investment objective is to seek a high after-tax total return from a combination of capital appreciation and current income. The Fund will pursue its investment objective by investing, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in a portfolio of midstream energy investments. It considers midstream energy investments to be investments that offer economic exposure to securities of midstream energy companies, which are companies that provide midstream services in the energy infrastructure sector, including the gathering, transporting, processing, fractionation, storing, refining and distribution of natural resources, such as natural gas, natural gas liquids, biofuels, carbon sequestration and others. Its investment advisor is Cushing Asset Management, LP. |
| Financial Overview |
| For the fiscal year ended 30 November 2023, NXG Cushing Midstream Energy Fund revenues decreased 76% to $4.4M. Net income decreased 81% to $3.4M. Revenues reflect Net realized gain on investments decrease of 89% to $1.7M, Distributions and dividends received decrease of 4% to $6.1M. Net income also reflects G/L on Sale of Tangible & Intangib decrease of 24% to $1.9M (income), expense waived by Adviser decrease of 11% to $257K (income). |
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