Tortoise Capital Announces Shareholder Approval of Closed-End Fund Mergers and Conversion to Actively Managed ETF [Yahoo! Finance]
Tortoise Midstream Energy Fund, Inc. (NTG)
US:NYSE Investor Relations:
tortoiseadvisors.com
Company Research
Source: Yahoo! Finance
announced it received shareholder approval of two strategic fund merger proposals involving closed-end funds and the conversion to an actively managed ETF. These changes align with the firm's commitment to providing innovative investment solutions that are intended to enhance shareholder value and operational efficiency. Subject to the satisfaction of certain customary closing conditions, Tortoise Capital expects the mergers and ETF conversion to become effective, and trading of the merged funds will cease, before the market opens on Dec. 23, 2024 Tortoise Midstream Energy Fund, Inc. (NYSE: NTG) and Tortoise Energy Infrastructure Corp. (NYSE: TYG) will merge, with TYG emerging as the continuing fund, with combined total assets under management (AUM) on a pro forma basis of $1.1 billion as of Nov. 29, 2024 . TYG will retain its original investment strategy and objective, becoming Tortoise Capital's flagship closed-end fund solution for investors seeking this structure. Tortoise Cap
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- NTG And TYG: Merger Proposal [Seeking Alpha]Seeking Alpha
NTG
Sec Filings
- 12/17/24 - Form 4
- 11/25/24 - Form 425
- 11/25/24 - Form 8-K
- NTG's page on the SEC website