Salient Midstream & MLP Fund - SMM STOCK NEWS

Salient Midstream & MLP Fund (NYSE: SMM) announced its unaudited balance sheet as of August 31, 2022, showing total assets of $161.9 million and a Net Asset Value (NAV) per share of $9.12. Shares were trading at a 1.2% discount to NAV. The Fund's total returns for August were 3.8% (NAV) and 9.4% (market price), outperforming the Alerian Midstream Energy Select Index. The Fund's reorganization is anticipated to complete by September 13, 2022. The Fund ranked second in market price returns and third in NAV since inception among peer funds.

On September 1, 2022, Salient Midstream & MLP Fund (NYSE: SMM) announced that shareholders approved its Reorganization into Salient MLP & Energy Infrastructure Fund (SMAPX). This transition is expected to finalize post-market on September 13, 2022. Trading of SMM shares will cease on September 8, 2022. Following the Reorganization, shareholders will receive Class A Shares of SMAPX equivalent to the net asset value of their SMM holdings. SMAPX, managed by Salient Capital Advisors, LLC, targets MLPs and energy infrastructure, boasting approximately $964 million in net assets.

Salient Midstream & MLP Fund (NYSE: SMM) announced plans for a reorganization into the Salient MLP & Energy Infrastructure Fund (SMAPX) if approved by shareholders. The reorganization is expected to occur after market close on September 13, 2022, contingent on customary conditions. Trading of SMM shares will halt at market close on September 8, 2022, with shareholders receiving newly issued Class A Shares of SMAPX, maintaining the same net asset value. SMAPX, with around $996 million in net assets, follows a similar investment strategy as SMM.

The Salient Midstream & MLP Fund (NYSE: SMM) has announced a Special Shareholder Meeting on September 1, 2022, to vote on a proposed reorganization into the Salient MLP & Energy Infrastructure Fund (SMAPX), which manages approximately $849 million in net assets. Shareholders eligible to vote must be recorded by August 10, 2022. If approved, the Fund will cease reinvesting distributions and will pay cash for future distributions, including the upcoming third quarter distribution. Shareholders are encouraged to read the forthcoming Proxy Statement/Prospectus for essential details.

Saba Capital Management has reached an agreement regarding Salient Midstream & MLP Fund (NYSE: SMM) to reorganize it into a lower-fee open-end mutual fund, Salient MLP & Energy Infrastructure Fund. This includes a $300,000 payment from the investment advisor to be allocated as a special “Saba Special Distribution” to all shareholders. Shareholders can exit the Fund at a premium to its net asset value, or stay and benefit from a 20% reduction in management fees.

Salient Midstream & MLP Fund (SMM) announced a $0.0875 per share distribution for Q3 2022 and a special distribution of $0.0169 per share, totaling $300,000. Payments are due August 30, 2022, with a record date of August 18, 2022. The fund is reorganizing into Salient MLP & Energy Infrastructure Fund (SMAPX), with voting on the reorganization scheduled for August 10, 2022. As of July 31, 2022, SMM's total assets were $215.7 million and NAV per share was $8.89.

Salient Midstream & MLP Fund (NYSE: SMM) disclosed its net asset value (NAV) and financials as of June 30, 2022. The total assets amounted to $199.7 million, with an NAV per share of $7.94. The Fund's share price was $7.57, reflecting a 4.7% discount to NAV. Total returns in June were -18.3% for NAV and -10.9% for market price, compared to -13.2% for the AMEIX index. The Board proposed to reorganize SMM into SMLPX, pending shareholder approval. Over the past year, SMM increased distributions by 46%, focusing on total returns over distribution rates.

Salient Midstream & MLP Fund (NYSE: SMM) announced a planned reorganization into the Salient MLP & Energy Infrastructure Fund (SMLPX), an open-end fund with approximately $849 million in net assets. This decision was made by the Board of Trustees after careful consideration of shareholder interests. The merger requires SMM shareholder approval and will be detailed in an upcoming Proxy Statement/Prospectus, expected to be filed with the SEC. Both funds focus on investing in MLPs and energy infrastructure, emphasizing cash distribution to shareholders.

Salient Midstream & MLP Fund (NYSE: SMM) announced its unaudited Net Asset Value (NAV) as of May 31, 2022, reporting total assets of $233.8 million and an NAV per share of $9.72. The Fund's shares were trading at a 12.6% discount, with total returns of 6.6% for NAV and 8.1% for market price in May. Year-to-date returns stand at 32.9% (NAV) and 28.9% (market price). SMM has increased its distribution by 46% over the past year and plans semi-annual reviews. The Fund is focused on generating top-tier returns and enhancing shareholder value amidst rising energy prices.