First Republic Investment Management Inc. cut its holdings in shares of Tortoise Midstream Energy Fund Inc (NYSE:NTG) by 29.5% in the 1st quarter, Holdings Channel reports. The firm owned 43,517 shares of the investment management company’s stock after selling 18,223 shares during the quarter. First Republic Investment Management Inc.’s holdings in Tortoise Midstream Energy Fund were worth $610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new position in shares of Tortoise Midstream Energy Fund during the 1st quarter valued at about $54,000. Allen Capital Group LLC raised its holdings in shares of Tortoise Midstream Energy Fund by 2.5% during the 1st quarter. Allen Capital Group LLC now owns 34,341 shares of the investment management company’s stock valued at $481,000 after buying an additional 828 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Tortoise Midstream Energy Fund by 563.5% during the 1st quarter. Bank of Montreal Can now owns 210,588 shares of the investment management company’s stock valued at $2,952,000 after buying an additional 178,848 shares in the last quarter. Creative Planning purchased a new position in shares of Tortoise Midstream Energy Fund during the 1st quarter valued at about $245,000. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Tortoise Midstream Energy Fund by 6.9% during the 1st quarter. Oppenheimer & Co. Inc. now owns 276,428 shares of the investment management company’s stock valued at $3,876,000 after buying an additional 17,922 shares in the last quarter.

Shares of NYSE NTG opened at $14.38 on Thursday. Tortoise Midstream Energy Fund Inc has a 1-year low of $11.02 and a 1-year high of $19.50.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 24th will be issued a dividend of $0.4225 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.69 dividend on an annualized basis and a dividend yield of 11.75%.

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Tortoise Midstream Energy Fund Profile

Tortoise MLP Fund, Inc is a close ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC It invests in public equity markets. The fund primarily invests in equity securities of MLPs and their affiliates, with an emphasis on natural gas infrastructure Master Limited Partnerships.

See Also: How a Back-End Load Mutual Fund Works

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Institutional Ownership by Quarter for Tortoise Midstream Energy Fund (NYSE:NTG)

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