Bulldog Investors Updates NXG Stake to 3.33%

TL;DR

**Bulldog Investors trimmed their NXG stake to 3.33%, watch for their next move.**

AI Summary

Bulldog Investors, LLP, an investment adviser, and its principal, Phillip Goldstein, filed an amended Schedule 13D/A on January 8, 2024, indicating a change in their beneficial ownership of NXG NextGen Infrastructure Income Fund (NXG). As of January 4, 2024, they collectively own 86,564 shares, representing 3.33% of the fund's outstanding shares. This filing updates their previous disclosure and signals a slight reduction in their reported aggregate ownership, which could be interpreted as a minor decrease in their activist stake in the fund.

Why It Matters

This filing matters to investors because Bulldog Investors is known for activist investing; a change in their stake, even minor, can signal shifts in their strategy or conviction regarding NXG NextGen Infrastructure Income Fund.

Risk Assessment

Risk Level: low — The filing indicates a minor change in ownership by an existing activist investor, posing low immediate risk to the company or its shareholders.

Analyst Insight

Investors should note Bulldog Investors' continued, albeit slightly reduced, stake in NXG. While not a major change, it's worth monitoring future filings for any significant shifts in their position, as Bulldog is known for activist strategies that could influence fund management or structure.

Key Numbers

• 86,564 — Aggregate Shares Owned (Total shares of NXG NextGen Infrastructure Income Fund beneficially owned by Bulldog Investors, LLP and Phillip Goldstein as of January 4, 2024.)
• 3.33% — Percentage of Class (The percentage of NXG NextGen Infrastructure Income Fund's outstanding shares represented by the aggregate ownership of Bulldog Investors, LLP and Phillip Goldstein.)
• 4,710 — Sole Voting Power (Shares over which Bulldog Investors, LLP has sole voting and dispositive power.)
• 81,854 — Shared Voting Power (Shares over which Bulldog Investors, LLP has shared voting and dispositive power.)

Key Players & Entities

• Bulldog Investors, LLP (company) — reporting person and investment adviser
• Phillip Goldstein (person) — reporting person and principal of Bulldog Investors, LLP
• NXG NextGen Infrastructure Income Fund (company) — subject company of the filing
• 86,564 (dollar_amount) — aggregate shares owned by reporting persons
• 3.33% (dollar_amount) — percentage of class represented by shares owned
• January 4, 2024 (date) — date of event requiring the filing

Forward-Looking Statements

• Bulldog Investors will continue to monitor their investment in NXG NextGen Infrastructure Income Fund and may adjust their stake further. (Bulldog Investors, LLP) — medium confidence, target: Q2 2024

FAQ

Filing Documents

• fp0086636-1_sc13da.htm (SC 13D/A) — 6KB
• 0001398344-24-000282.txt ( ) — 8KB

SECURITY AND ISSUER

Item 1. SECURITY AND ISSUER This Constitutes Amendment #2 to the schedule 13d filed May 8, 2023. Except as specifically set forth herein, the Schedule 13d remaines unmodified

INTEREST IN SECURITIES OF THE ISSUER

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (a) As per the N-CSRS filed on 8/7/2023 there were 2,601,714 shares of common stock outstanding as of 5/31/2023. The percentages set forth herein were derived using such number. Phillip Goldstein and Andrew Dakos own Bulldog Investors, LLP, a registered investment advisor. As of January 5, 2024 Bulldog Investors, LLP is deemed to be the beneficial shares) solely by virtue of Bulldog Investors LLP's power to direct the vote of,and dispose of, these shares. As of January 5, 2024, each of Messrs. Goldstein and Dakos is deemed to be the beneficial owner of 141,871 shares of NXG (representing 5.45% of NXG's outstanding shares) by virtue of their power to direct the vote of, and dispose of, these shares. (b)Bulldog Investors,LLP has sole power to dispose of and vote 4,710 shares. Bulldog Investors, LLP has shared power to dispose of and vote 86,564 shares. Certain of Bulldog Investors, LLP's clients (none of whom beneficially own more than 5% of NXG's shares) share this power with Bulldog Investors, LLP. Messrs. Goldstein and Dakos are partners of Bulldog Investors, LLP. Messrs. Goldstein and Dakos have shared power to dispose of and vote an additional 55,307 shares. c) Since the last filing the following shares of NXG were sold. Date Shares Price 1/5/2024 (90) 36.3800 1/4/2024 (7,343) 36.2200 1/3/2024 (3,000) 36.2100 d) Clients of Bulldog Investors, LLP and a closed-end investment company for which Messrs. Goldstein and Dakos have investment authority are entitled to receive any dividends or sales proceeds. e) N/A

CONTRACTS,ARRANGEMENTS,UNDERSTANDINGS OR RELATIONSHIPS

ITEM 6. CONTRACTS,ARRANGEMENTS,UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. N/A

MATERIAL TO BE FILED AS EXHIBITS

ITEM 7. MATERIAL TO BE FILED AS EXHIBITS None After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this Dated: 1/8/2024 By: /S/ Phillip Goldstein Name: Phillip Goldstein By: /S/ Andrew Dakos Name: Andrew Dakos Bulldog Investors, LLP By: /s/ Andrew Dakos Andrew Dakos, Partner Footnote 1: The reporting persons disclaim beneficial ownership except to the extent of any pecuniary interest therein.

View Full Filing

View this SC 13D/A filing on SEC EDGAR