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Key Stats

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Expense Ratio Discount or Premium to NAV Total Assets Under Management 30-Day Average Daily Volume
2.97% -19.34% 133.80M 86090.13
Dividend Yield Turnover Ratio 1 Year Fund Level Flows Max Drawdown (All)
0.13% 155.5% -27991.82 Upgrade

Basic Info

Investment Strategy
The Fund seeks to achieve its investment objective by investing at least 80% of its total assets in securities of Midstream Companies and MLPs. Midstream companies own or operate midstream assets used in transporting, storing, gathering, processing, distributing, marketing and/or delivering natural gas, natural gas liquids, crude oil or refined products or coal and MLPs are publicly traded limited partnerships or limited liability companies that are treated as partnerships for U.S. federal income tax purposes. The Fund intends to utilize an option strategy in an effort to enhance returns. The options strategy is intended to generate returns from options. The Fund currently expects to write covered call options on portfolio positions, in an amount up to 30% of the value of total assets in its portfolio (which represents 45% of net assets) in an effort to enhance returns.
General
Security Type Closed-End Fund
Equity Style Mid Cap/Value
Fixed Income Style --
Broad Asset Class Sector Equity
Broad Category Equity
Category Name Energy Limited Partnership
Category Index Morningstar MLP Composite TR USD
Prospectus Objective Specialty - Natural Resources
Fund Owner Firm Name Salient Capital Advisors, LLC
Broad Asset Class Benchmark Index
^MSWNTR 100.0%
Manager Tenure
Frank (Ted) Gardner 9.28 yrs
Gregory Reid 9.28 yrs

Net Fund Flows Versus Category

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1M
3M
6M
YTD
1Y
3Y
5Y
10Y
 
80.00B
60.00B
40.00B
20.00B
0
-20.00B
1 Month
% Rank: --
-- Category Low
-- Category High
1 Year
% Rank: 35
-27991.82
-760.14M Category Low
96.91M Category High
3 Months
% Rank: --
-- Category Low
-- Category High
3 Years
% Rank: --
-- Category Low
-- Category High
6 Months
% Rank: --
-- Category Low
-- Category High
5 Years
% Rank: --
-- Category Low
-- Category High
YTD
% Rank: --
-- Category Low
-- Category High
10 Years
% Rank: --
-- Category Low
-- Category High
As of January 31, 2018

Performance Versus Category

 
20%
15%
10%
5%
0
View Category Returns. Upgrade now.
Name
1M
3M
YTD
1Y
3Y
5Y
10Y
15Y
Total Return (Price)
--
--
--
--
--
--
--
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Total Return (NAV)
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Category Rtn. (NAV)
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% Rank in Cat (NAV)
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As of September 17, 2021. Returns for periods of 1 year and above are annualized.

Annual Total Returns Versus Peers

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Name
2014
2015
2016
2017
2018
2019
2020
YTD
6.61%
-56.51%
60.44%
-11.74%
-27.67%
14.74%
-41.32%
46.17%
4.94%
-0.87%
7.51%
22.40%
-8.71%
27.67%
15.90%
16.34%
20.43%
-32.18%
27.32%
9.23%
-22.00%
34.08%
-45.73%
34.31%
8.37%
-32.63%
20.80%
0.73%
-22.86%
2.36%
-80.09%
44.81%
7.45%
-40.75%
13.17%
7.85%
-24.79%
19.97%
-66.71%
67.57%
4.48%
-57.54%
41.85%
-5.64%
-23.98%
18.25%
-37.15%
29.34%
As of September 17, 2021.

Fundamentals

General
Distribution Yield Upgrade
Dividend Yield TTM (9-17-21) 0.13%
30-Day SEC Yield --
7-Day SEC Yield --
Number of Holdings Upgrade
Stock
Weighted Average PE Ratio 16.74
Weighted Average Price to Sales Ratio Upgrade
Weighted Average Price to Book Ratio Upgrade
Weighted Median ROE Upgrade
Weighted Median ROA Upgrade
Forecasted Dividend Yield Upgrade
Forecasted PE Ratio Upgrade
Forecasted Price to Sales Ratio Upgrade
Forecasted Price to Book Ratio Upgrade
As of July 31, 2021

Growth Estimates

Forecasted 5 Yr Earnings Growth Upgrade
Forecasted Book Value Growth Upgrade
Forecasted Cash Flow Growth Upgrade
Forecasted Earnings Growth Upgrade
Forecasted Revenue Growth Upgrade
As of July 31, 2021

Asset Allocation

As of July 31, 2021.
Type % Net % Long % Short
Cash -38.90% Upgrade Upgrade
Stock 126.4% Upgrade Upgrade
Bond 0.00% Upgrade Upgrade
Convertible 0.00% Upgrade Upgrade
Preferred 0.00% Upgrade Upgrade
Other 12.49% Upgrade Upgrade

Top 10 Holdings

Name % Weight Price % Change
Emg Utica Offshore Co-Investment Lp
12.49% -- --
Williams Companies Inc 9.55% 25.28 -0.51%
Energy Transfer LP 7.97% 9.10 -0.44%
MPLX LP Partnership Units 7.69% 28.64 1.09%
ONEOK Inc 7.68% 55.17 -0.72%
Plains GP Holdings LP Class A 6.98% 10.15 -3.24%
Pembina Pipeline Corp 6.82% 31.41 -1.32%
Cheniere Energy Inc 6.58% 86.93 -4.16%
Enbridge Inc 6.50% 39.65 -1.02%
Keyera Corp 6.16% 33.10 -0.06%

Basic Info

Investment Strategy
The Fund seeks to achieve its investment objective by investing at least 80% of its total assets in securities of Midstream Companies and MLPs. Midstream companies own or operate midstream assets used in transporting, storing, gathering, processing, distributing, marketing and/or delivering natural gas, natural gas liquids, crude oil or refined products or coal and MLPs are publicly traded limited partnerships or limited liability companies that are treated as partnerships for U.S. federal income tax purposes. The Fund intends to utilize an option strategy in an effort to enhance returns. The options strategy is intended to generate returns from options. The Fund currently expects to write covered call options on portfolio positions, in an amount up to 30% of the value of total assets in its portfolio (which represents 45% of net assets) in an effort to enhance returns.
General
Security Type Closed-End Fund
Equity Style Mid Cap/Value
Fixed Income Style --
Broad Asset Class Sector Equity
Broad Category Equity
Category Name Energy Limited Partnership
Category Index Morningstar MLP Composite TR USD
Prospectus Objective Specialty - Natural Resources
Fund Owner Firm Name Salient Capital Advisors, LLC
Broad Asset Class Benchmark Index
^MSWNTR 100.0%
Manager Tenure
Frank (Ted) Gardner 9.28 yrs
Gregory Reid 9.28 yrs

Fundamentals

General
Distribution Yield Upgrade
Dividend Yield TTM (9-17-21) 0.13%
30-Day SEC Yield --
7-Day SEC Yield --
Number of Holdings Upgrade
Stock
Weighted Average PE Ratio 16.74
Weighted Average Price to Sales Ratio Upgrade
Weighted Average Price to Book Ratio Upgrade
Weighted Median ROE Upgrade
Weighted Median ROA Upgrade
Forecasted Dividend Yield Upgrade
Forecasted PE Ratio Upgrade
Forecasted Price to Sales Ratio Upgrade
Forecasted Price to Book Ratio Upgrade
As of July 31, 2021

Growth Estimates

Forecasted 5 Yr Earnings Growth Upgrade
Forecasted Book Value Growth Upgrade
Forecasted Cash Flow Growth Upgrade
Forecasted Earnings Growth Upgrade
Forecasted Revenue Growth Upgrade
As of July 31, 2021

Fund Details

Key Dates
Inception Date 5/25/2012
Last Annual Report Date 11/30/2020
Last Prospectus Date 12/31/2013
Attributes
Enhanced Index Fund No
Index Fund No
Inverse Fund No
Leveraged Fund Yes
Fund of Funds No
Currency Hedged Fund No
Synthetic Replication Fund No
Has Dividend Investment Plan Yes
Socially Responsible Fund No