Company: SRV
Filing Date: 2025-02-10
Form Type: N-CSR
Source: 0001398344-25-002262
Chunk: 32

Company: NXG Cushing Midstream Energy Fund
Filing Date: 2025-02-10
Form: N-CSR
Chunk 32
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 | 32.27 |     | $                       | 41.07 |     | $   | 38.00 |     |                            | -10.62 | % |     |     | -15.08 | % |

As of November 30, 2024, the net asset value of the Fund’s common shares was $48.54 per common share, and the last reported sale price for the Fund’s common shares on the NYSE was $46.50 per common share, representing a discount to net asset value of ( 4.20)%. The Fund cannot predict whether its common shares will trade in the future at a premium to or discount from net asset value, or the level of any premium or discount. Shares of closed-end investment companies frequently trade at a discount from net asset value. As of November 30, 2024, 4,016,705 common shares of the Fund were outstanding.

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Capitalization

The following information regarding the Fund’s authorized shares is as of November 30, 2024:

| Title of Class      | Amount Authorized | Amount Held 
 by Fund     
 for its     
 own Account |       Amount 
  Outstanding 
 Exclusive of 
 Amounts held 
      by Fund |
| Common Shares of    
 Beneficial Interest | Unlimited         | None        |    4,016,705 |

INVESTMENT OBJECTIVE AND POLICIES

Investment Objective

The Fund’s investment objective is to obtain a high after-tax total return from a combination of capital appreciation and current income. There can be no assurance that the Fund’s investment objective will be achieved.

Principal Investment Policies

The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of Managed Assets (as defined in this report) in a portfolio of midstream energy investments (the “80% policy”). For purposes of the Fund’s 80% policy, midstream energy investments are investments that offer economic exposure to securities of midstream energy companies, which are companies that provide midstream energy services, including the gathering, transporting, processing, fractionation, storing, refining and distribution of natural resources, such as natural gas, natural gas liquids, crude oil refined petroleum products, biofuels, carbon sequestration, solar, and wind. The Fund considers a company to be a midstream energy company if at least 50% of its assets, income, sales or profits are committed to or derived from midstream energy services.