Welch & Forbes LLC cut its holdings in shares of Kayne Anderson MLP Midstream Invstmnt Co (NYSE:KYN) by 28.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 298,774 shares of the financial services provider’s stock after selling 119,997 shares during the period. Welch & Forbes LLC’s holdings in Kayne Anderson MLP Midstream Invstmnt were worth $1,577,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in KYN. Raymond James & Associates grew its stake in Kayne Anderson MLP Midstream Invstmnt by 105.6% in the first quarter. Raymond James & Associates now owns 1,253,377 shares of the financial services provider’s stock worth $4,550,000 after purchasing an additional 643,732 shares in the last quarter. Mid Atlantic Financial Management Inc. ADV grew its stake in Kayne Anderson MLP Midstream Invstmnt by 18.7% in the first quarter. Mid Atlantic Financial Management Inc. ADV now owns 20,347 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 3,200 shares in the last quarter. Moors & Cabot Inc. acquired a new position in Kayne Anderson MLP Midstream Invstmnt in the first quarter worth about $62,000. Credit Suisse AG acquired a new position in Kayne Anderson MLP Midstream Invstmnt in the fourth quarter worth about $6,838,000. Finally, Bank of America Corp DE grew its stake in Kayne Anderson MLP Midstream Invstmnt by 2.6% in the fourth quarter. Bank of America Corp DE now owns 2,383,833 shares of the financial services provider’s stock worth $33,207,000 after purchasing an additional 60,106 shares in the last quarter.
Shares of KYN stock opened at $5.10 on Friday. The business has a 50 day moving average of $5.66 and a two-hundred day moving average of $8.09. Kayne Anderson MLP Midstream Invstmnt Co has a 52 week low of $1.00 and a 52 week high of $15.96.
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Thursday, June 18th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, June 17th. This represents a $0.60 dividend on an annualized basis and a yield of 11.76%.
In related news, President James C. Baker bought 15,000 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was bought at an average cost of $6.37 per share, for a total transaction of $95,550.00.
A number of equities analysts recently commented on KYN shares. Bank of America upgraded Kayne Anderson MLP Midstream Invstmnt from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 10th. upgraded Kayne Anderson MLP Midstream Invstmnt from an “underperform” rating to a “neutral” rating in a research note on Wednesday, June 10th.
About Kayne Anderson MLP Midstream Invstmnt
Kayne Anderson MLP/Midstream Investment Co operates as a closed end management investment trust, which invests principally in equity securities of energy-related master limited partnerships. Its investment objective is to obtain high after-tax total returns for its shareholders. The company was founded on June 4, 2004 and is headquartered in Houston, TX.
See Also: What is insider trading?
Want to see what other hedge funds are holding KYN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kayne Anderson MLP Midstream Invstmnt Co (NYSE:KYN).