{"id":439939,"date":"2021-02-19T09:05:15","date_gmt":"2021-02-19T14:05:15","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=439939"},"modified":"2021-02-19T09:05:15","modified_gmt":"2021-02-19T14:05:15","slug":"cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index\/","title":{"rendered":"Cushing\u00ae Asset Management and Swank Capital Announce a Constituent Change to The Cushing\u00ae MLP High Income Index"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">DALLAS<\/span>, <span class=\"xn-chron\">Feb. 19, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Cushing<sup>\u00ae<\/sup> Asset Management,\u00a0LP, and Swank Capital,\u00a0LLC, announce an upcoming interim change to the constituents of The <span class=\"xn-location\">Cushing<\/span><sup>\u00ae<\/sup> MLP High Income Index (the &#8220;Index&#8221;). On <span class=\"xn-chron\">December 14, 2020<\/span>, Index constituent TC\u00a0PipeLines, LP (NYSE: TCP) entered into an Agreement and Plan of Merger (&#8220;Merger Agreement&#8221;) with TC Energy Corporation (NYSE: TRP) and affiliated companies that would result in TCP common units ceasing to be publicly traded, subject to the approval of the holders of TCP common units. A special meeting of the unitholders of TCP will be held on <span class=\"xn-chron\">February 26, 2021<\/span>, for the purpose of voting on the Merger Agreement. Per the Index&#8217;s methodology guide, this event will result in a constituent replacement. Accordingly, after the market closes on <span class=\"xn-chron\">February 26, 2021<\/span>, and effective on March\u00a01,\u00a02021, EnLink Midstream, LLC (NYSE: ENLC) will replace TCP as a constituent of the Index at TCP&#8217;s then-current weight.<\/p>\n<p>There will be no changes to the remaining constituents of the Index due to this event.<\/p>\n<p>ABOUT THE <span class=\"xn-location\">CUSHING<\/span><sup>\u00ae<\/sup> MLP HIGH INCOME INDEX<\/p>\n<p>The <span class=\"xn-location\">Cushing<\/span><sup>\u00ae<\/sup> 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 &#8220;Midstream Company&#8221; and collectively, &#8220;Midstream Companies&#8221;). Constituents are chosen according to a three-tiered proprietary weighting system developed by <span class=\"xn-location\">Cushing<\/span><sup>\u00ae<\/sup> Asset Management, LP. The <span class=\"xn-location\">Cushing<\/span><sup>\u00ae<\/sup> MLP High Income Index is calculated by S&amp;P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker &#8220;MLPY&#8221;.<\/p>\n<p>ABOUT <span class=\"xn-location\">CUSHING<\/span><sup>\u00ae<\/sup> ASSET MANAGEMENT AND SWANK CAPITAL<\/p>\n<p>\n        <span class=\"xn-location\">Cushing<\/span><br \/>\n        <sup>\u00ae<\/sup> Asset Management, LP (&#8220;<span class=\"xn-location\">Cushing<\/span>&#8220;), a subsidiary of Swank Capital, LLC, is an SEC-registered investment adviser headquartered in <span class=\"xn-location\">Dallas, Texas<\/span>. <span class=\"xn-location\">Cushing<\/span> serves as investment adviser to affiliated funds and managed accounts, providing active management in markets where inefficiencies exist.<\/p>\n<p>\n        <span class=\"xn-location\">Cushing<\/span> is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The <span class=\"xn-location\">Cushing<\/span><sup>\u00ae <\/sup>30 MLP Index (Bloomberg Ticker: MLPX) and The <span class=\"xn-location\">Cushing<\/span><sup>\u00ae <\/sup>MLP Market Cap Index (Bloomberg Ticker: CMCI). For more information, please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3072478-1&amp;h=3281414713&amp;u=http%3A%2F%2Fwww.cushingasset.com%2Findices&amp;a=http%3A%2F%2Fwww.cushingasset.com%2Findices\" rel=\"nofollow noopener noreferrer\">http:\/\/www.cushingasset.com\/indices<\/a>. <\/p>\n<p>Contact:<br \/><span class=\"xn-person\">Jon Abel<\/span><br \/>214-692-6334 <br \/><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3072478-1&amp;h=1690678657&amp;u=http%3A%2F%2Fwww.cushingasset.com%2F&amp;a=www.cushingasset.com\" rel=\"nofollow noopener noreferrer\">www.cushingasset.com<\/a><\/p>\n<p>The <span class=\"xn-location\">Cushing<\/span><sup>\u00ae<\/sup> MLP High Income Index (the &#8220;Index&#8221;) is the exclusive property of Swank Capital, LLC, and <span class=\"xn-location\">Cushing<\/span><sup>\u00ae<\/sup> Asset Management, LP, which has contracted with S&amp;P Opco, LLC (a subsidiary of S&amp;P Dow Jones Indices LLC) (&#8220;S&amp;P Dow Jones Indices&#8221;) to maintain and calculate the Index. S&amp;P<sup>\u00ae<\/sup> is a registered trademark of Standard &amp; Poor&#8217;s Financial Services LLC (&#8220;SPFS&#8221;); Dow Jones<sup>\u00ae<\/sup> is a registered trademark of Dow Jones Trademark Holdings LLC (&#8220;Dow Jones&#8221;); and these trademarks have been licensed to S&amp;P Dow Jones Indices. &#8220;Calculated by S&amp;P Dow Jones Indices&#8221; and its related stylized mark(s) have been licensed for use by Swank Capital, LLC, and <span class=\"xn-location\">Cushing<\/span><sup>\u00ae<\/sup> Asset Management, LP. Neither S&amp;P Dow Jones Indices, SPFS, Dow Jones S&amp;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.<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA84616&amp;sd=2021-02-19\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index-301231586.html\">http:\/\/www.prnewswire.com\/news-releases\/cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index-301231586.html<\/a><\/p>\n<p>SOURCE  Cushing\u00ae Asset Management, LP and Swank Capital, LLC<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=DA84616&amp;Transmission_Id=202102190902PR_NEWS_USPR_____DA84616&amp;DateId=20210219\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire DALLAS, Feb. 19, 2021 \/PRNewswire\/ &#8212;\u00a0Cushing\u00ae Asset Management,\u00a0LP, and Swank Capital,\u00a0LLC, announce an upcoming interim change to the constituents of The Cushing\u00ae MLP High Income Index (the &#8220;Index&#8221;). On December 14, 2020, Index constituent TC\u00a0PipeLines, LP (NYSE: TCP) entered into an Agreement and Plan of Merger (&#8220;Merger Agreement&#8221;) with TC Energy Corporation (NYSE: TRP) and affiliated companies that would result in TCP common units ceasing to be publicly traded, subject to the approval of the holders of TCP common units. A special meeting of the unitholders of TCP will be held on February 26, 2021, for the purpose of voting on the Merger Agreement. Per the Index&#8217;s methodology guide, this event will result in a constituent replacement. Accordingly, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Cushing\u00ae Asset Management and Swank Capital Announce a Constituent Change to The Cushing\u00ae MLP High Income Index&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-439939","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Cushing\u00ae Asset Management and Swank Capital Announce a Constituent Change to The Cushing\u00ae MLP High Income Index - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cushing\u00ae Asset Management and Swank Capital Announce a Constituent Change to The Cushing\u00ae MLP High Income Index - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire DALLAS, Feb. 19, 2021 \/PRNewswire\/ &#8212;\u00a0Cushing\u00ae Asset Management,\u00a0LP, and Swank Capital,\u00a0LLC, announce an upcoming interim change to the constituents of The Cushing\u00ae MLP High Income Index (the &#8220;Index&#8221;). On December 14, 2020, Index constituent TC\u00a0PipeLines, LP (NYSE: TCP) entered into an Agreement and Plan of Merger (&#8220;Merger Agreement&#8221;) with TC Energy Corporation (NYSE: TRP) and affiliated companies that would result in TCP common units ceasing to be publicly traded, subject to the approval of the holders of TCP common units. A special meeting of the unitholders of TCP will be held on February 26, 2021, for the purpose of voting on the Merger Agreement. Per the Index&#8217;s methodology guide, this event will result in a constituent replacement. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index\/","og_locale":"en_US","og_type":"article","og_title":"Cushing\u00ae Asset Management and Swank Capital Announce a Constituent Change to The Cushing\u00ae MLP High Income Index - Market Newsdesk","og_description":"PR Newswire DALLAS, Feb. 19, 2021 \/PRNewswire\/ &#8212;\u00a0Cushing\u00ae Asset Management,\u00a0LP, and Swank Capital,\u00a0LLC, announce an upcoming interim change to the constituents of The Cushing\u00ae MLP High Income Index (the &#8220;Index&#8221;). On December 14, 2020, Index constituent TC\u00a0PipeLines, LP (NYSE: TCP) entered into an Agreement and Plan of Merger (&#8220;Merger Agreement&#8221;) with TC Energy Corporation (NYSE: TRP) and affiliated companies that would result in TCP common units ceasing to be publicly traded, subject to the approval of the holders of TCP common units. A special meeting of the unitholders of TCP will be held on February 26, 2021, for the purpose of voting on the Merger Agreement. Per the Index&#8217;s methodology guide, this event will result in a constituent replacement. Accordingly, &hellip; Continue reading \"Cushing\u00ae Asset Management and Swank Capital Announce a Constituent Change to The Cushing\u00ae MLP High Income Index\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index\/","og_site_name":"Market Newsdesk","article_published_time":"2021-02-19T14:05:15+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA84616&amp;sd=2021-02-19","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Cushing\u00ae Asset Management and Swank Capital Announce a Constituent Change to The Cushing\u00ae MLP High Income Index","datePublished":"2021-02-19T14:05:15+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index\/"},"wordCount":551,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA84616&amp;sd=2021-02-19","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/cushing-asset-management-and-swank-capital-announce-a-constituent-change-to-the-cushing-mlp-high-income-index\/","name":"Cushing\u00ae Asset Management and Swank Capital Announce a Constituent Change to The Cushing\u00ae MLP High Income Index - 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