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Kayne Anderson Midstream Energy Fund Approves $20 Million Stock Repurchase Program


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Kayne Anderson Midstream Energy Fund ( KMF ) said that its board of directors has approved a program to repurchase up to $20 million of the fund's common stock.

The board said the stock's 14% discount to net asset value represents a compelling investment opportunity.

The repurchase program will continue until the earlier of the repurchase of $20 million of common stock or Sept. 30. The fund will have discretion to authorize its agents to make purchases in the open market when shares are trading at a discount of at least 8% to the fund's NAV per share.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , ETFs
Referenced Symbols: KMF



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