Saba Capital Management, L.P., a significant shareholder in Tortoise Midstream Energy Fund, Inc. (NYSE:NTG), reported a sale of 422 shares of common stock on December 16, 2024. The shares were sold at a price of $54.3 each, amounting to a total transaction value of $22,914. The transaction comes as NTG demonstrates strong market performance, with the stock posting an impressive 74.79% return over the past year and maintaining a solid 5.97% dividend yield. Following the sale, Saba Capital Management holds 515,345 shares indirectly in the $273 million market cap fund. The transaction was disclosed in a recent SEC filing, signed by Zachary Gindes on behalf of Saba Capital Management and Boaz Weinstein, both of whom are listed as ten percent owners. InvestingPro analysis reveals the fund has maintained dividend payments for 15 consecutive years, with additional insights available to subscribers.
In other recent news, Tortoise Midstream Energy Fund, Inc. has delayed its Special Meeting of Stockholders due to a lack of quorum. The meeting was originally scheduled to take place earlier but has been postponed to allow additional time for stockholders to vote on a specific proposal. The adjournment is designed to give the Fund's stockholders more opportunity to cast their votes. The record date for determining eligible voters remains unchanged. The company will continue its efforts to solicit votes from its stockholders during this adjournment period. The rescheduled meeting will take place at the company's location in Overland Park, Kansas. These recent developments were reported in the Form 8-K filed by Tortoise Midstream Energy Fund, Inc. with the Securities and Exchange Commission.
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