Cushing MLP Total Return Fund Stock Set to Reverse Split on Monday, June 15th (NYSE:SRV)

Shares of Cushing MLP Total Return Fund (NYSE:SRV) are scheduled to reverse split before the market opens on Monday, June 15th. The 1-4 reverse split was announced on Tuesday, June 2nd. The number of shares owned by shareholders will be adjusted after the market closes on Friday, June 12th.

SRV stock traded down $0.04 on Wednesday, hitting $5.42. 51,700 shares of the company’s stock traded hands, compared to its average volume of 52,754. Cushing MLP Total Return Fund has a 1-year low of $1.50 and a 1-year high of $10.74. The stock has a fifty day moving average of $4.73 and a 200-day moving average of $7.48.

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a $0.1919 dividend. This represents a $2.30 annualized dividend and a dividend yield of 42.49%. The ex-dividend date is Friday, June 12th. This is an increase from Cushing MLP Total Return Fund’s previous monthly dividend of $0.09.

Several large investors have recently modified their holdings of the stock. Advisor Group Holdings Inc. purchased a new stake in shares of Cushing MLP Total Return Fund in the 1st quarter valued at approximately $2,467,000. Advisor Group Inc. lifted its position in shares of Cushing MLP Total Return Fund by 15.6% in the 4th quarter. Advisor Group Inc. now owns 424,854 shares of the investment management company’s stock valued at $4,347,000 after acquiring an additional 57,334 shares in the last quarter. Invesco Ltd. lifted its position in shares of Cushing MLP Total Return Fund by 46.5% in the 1st quarter. Invesco Ltd. now owns 154,464 shares of the investment management company’s stock valued at $545,000 after acquiring an additional 49,030 shares in the last quarter. First Republic Investment Management Inc. lifted its position in shares of Cushing MLP Total Return Fund by 0.8% in the 4th quarter. First Republic Investment Management Inc. now owns 131,375 shares of the investment management company’s stock valued at $1,344,000 after acquiring an additional 1,085 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its position in shares of Cushing MLP Total Return Fund by 82.7% in the 1st quarter. CWA Asset Management Group LLC now owns 61,105 shares of the investment management company’s stock valued at $216,000 after acquiring an additional 27,665 shares in the last quarter.

About Cushing MLP Total Return Fund

Cushing MLP Total Return Fund is a closed-ended balanced mutual fund launched by Swank Capital, LLC. The fund is managed by Swank Energy Income Advisors L.P. It invests in the public equity and fixed income markets across the globe with a focus in United States. The fund typically invests in MLPs, Other Natural Resource Companies, and global commodities.

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