Kayne Anderson MLP Investment C (KYN) Hits a New 52-Week Low


The company is down since yesterday’s close of 16.41. Shares last traded at $16.20 which is marginally under $17.69, the 50 day moving average and impressively lower than the 200 day moving average of $18.43. The 50 day moving average went down by -8.45% and the 200 day average went down by -12.11%.

Short traders are more bearish on the company recently as evidenced by the change in short interest. The firm saw a rise in short interest of 38.54% between September 15, 2017 and September 29, 2017. Short shares grew 98,561 over that period.

Kayne Anderson MLP Investment Company, launched on June 4, 2004, is a non-diversified, closed-end investment company. The Company?s investment objective is to obtain a high after-tax total return by investing at least 85% of its total assets plus any borrowings in energy-related master limited partnerships (MLPs) and their affiliates, and in other companies that, as their principal business, operate assets used in the gathering, transporting, processing, storing, refining, distributing, mining or marketing of natural gas, natural gas liquids, crude oil, refined petroleum products or coal (collectively with MLPs referred to as Midstream Energy Companies). The Company?s portfolio investments principally consist of equity securities issued by MLPs..

Here are a few substantial investment firms who have updated their positions. As of quarter end Addison Capital Co had disposed of a total of 500 shares trimming its holdings by 2.7%. The value of the investment in KYN decreased from $355,000 to $333,000 a change of $22,000 quarter to quarter. As of the end of the quarter Winslow, Evans & Crocker, Inc. had sold 1,031 shares trimming its position 32.4%. The value of the total investment in Kayne Anderson MLP Investment C went from $60,737,000 to $39,096,000 a change of 35.6% since the last quarter.

As of quarter end Pointe Capital Management LLC had sold 1,000 shares trimming its stake by 1.3%. The value of the investment in Kayne Anderson MLP Investment C decreased from $1,426,000 to $1,356,000 decreasing 4.9% quarter over quarter. As of quarter end Sit Investment Associates Inc had acquired 55,867 shares growing its stake by 6.2%. The value in dollars increased from $16,934,000 to $17,338,000 a change of 2.4% for the reporting period.