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Cushing® Asset Management and Swank Capital Announce a Constituent Change to The Cushing® MLP High Income Index

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DALLAS, Nov. 26, 2019 /PRNewswire/ -- Cushing® Asset Management, LP, and Swank Capital, LLC, announce an upcoming interim change to constituents of The Cushing® MLP High Income Index (the "Index"). On September 15, 2019, Index constituents SemGroup Corporation (NYSE:SEMG) and Energy Transfer LP (NYSE:ET) entered into an Agreement and Plan of Merger ("Merger Agreement") that would result in SEMG common shares ceasing to be publicly traded, subject to the approval of the holders of at least a majority of the SEMG common and preferred shares. A special meeting of SEMG stockholders will be held on December 4, 2019, for the purpose of voting on the Merger Agreement. Per the Index's methodology guide, this event will result in a constituent replacement. Accordingly, after the market closes on December 4, 2019, and effective on December 5, 2019, Magellan Midstream Partners, L.P. (NYSE:MMP) will replace SEMG as a constituent of the Index at SEMG's then-current weight.

There will be no changes to the remaining constituents of the Index due to this event.

ABOUT THE CUSHING® MLP HIGH INCOME INDEX

The Cushing® MLP High Income Index provides a benchmark that is designed to track the performance of 30 higher-yielding publicly traded midstream energy infrastructure companies, including master limited partnerships (MLPs) and non-MLP energy midstream corporations (each, a "Midstream Company" and collectively, "Midstream Companies"). Constituents are chosen according to a three-tiered proprietary weighting system developed by Cushing® Asset Management, LP. The Cushing® MLP High Income Index is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "MLPY".

ABOUT CUSHING® ASSET MANAGEMENT AND SWANK CAPITAL

Cushing® Asset Management, LP ("Cushing"), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in Dallas, Texas. Cushing serves as investment adviser to affiliated funds and managed accounts, providing active management in markets where inefficiencies exist.

Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing® 30 MLP Index (ARCA:MLPX), The Cushing® MLP Market Cap Index (OTC:CMCI), The Cushing® Energy Index (TICKER:CENI), The Cushing® Energy Supply Chain Index (TICKER:CSCI), The Cushing® Transportation Index (TICKER:CTRI) and The Cushing® Utility Index (TICKER:CUTI).  For more information, please visit http://www.cushingasset.com/indices

Contact:
Brian Atwood
214-692-6334
www.cushingasset.com

The Cushing® MLP High Income Index (the "Index") is the exclusive property of Swank Capital, LLC, and Cushing® Asset Management, LP, which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to maintain and calculate the Index. S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"); and these trademarks have been licensed to S&P Dow Jones Indices. "Calculated by S&P Dow Jones Indices" and its related stylized mark(s) have been licensed for use by Swank Capital, LLC, and Cushing® Asset Management, LP. Neither S&P Dow Jones Indices, SPFS, Dow Jones S&P nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.

CUSH-MLPY

 

Cision View original content:http://www.prnewswire.com/news-releases/cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index-300965184.html

SOURCE Cushing® Asset Management, LP; Swank Capital, LLC

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