Salient Midstream & MLP Fund (NYSE:SMM) Shares Up 0.3%

Salient Midstream & MLP Fund (NYSE:SMM)’s share price shot up 0.3% during mid-day trading on Wednesday . The stock traded as high as $7.20 and last traded at $7.18, 1,625 shares changed hands during mid-day trading. A decline of 98% from the average session volume of 101,813 shares. The stock had previously closed at $7.16.

The company has a 50 day moving average price of $7.51 and a 200-day moving average price of $8.15.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be paid a $0.171 dividend. This represents a $0.68 annualized dividend and a dividend yield of 9.55%. The ex-dividend date of this dividend is Friday, November 15th.

Several institutional investors have recently added to or reduced their stakes in SMM. Kayne Anderson Capital Advisors LP increased its position in Salient Midstream & MLP Fund by 256.0% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 449,600 shares of the investment management company’s stock valued at $3,533,000 after purchasing an additional 323,300 shares during the period. Oppenheimer & Co. Inc. increased its position in Salient Midstream & MLP Fund by 10.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 47,562 shares of the investment management company’s stock valued at $374,000 after purchasing an additional 4,539 shares during the period. Matisse Capital increased its position in Salient Midstream & MLP Fund by 17.3% during the 3rd quarter. Matisse Capital now owns 249,400 shares of the investment management company’s stock valued at $1,960,000 after purchasing an additional 36,700 shares during the period. 6 Meridian increased its position in Salient Midstream & MLP Fund by 14.5% during the 3rd quarter. 6 Meridian now owns 33,152 shares of the investment management company’s stock valued at $261,000 after purchasing an additional 4,191 shares during the period. Finally, Round Table Services LLC acquired a new stake in Salient Midstream & MLP Fund during the 3rd quarter valued at approximately $237,000.

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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