DALLAS, July 13, 2018 /PRNewswire/ -- Swank Capital, LLC and Cushing® Asset Management, LP announce an upcoming interim change to the constituents of The Cushing® 30 MLP Index (the "Index"). On April 25, 2018, Index constituents EQT Midstream Partners, LP (NYSE: EQM) and Rice Midstream Partners LP (NYSE: RMP) entered into an agreement and plan of merger wherein EQM would acquire RMP, subject to the approval of RMP unitholders. A special meeting of RMP unitholders is scheduled for July 20, 2018, for the purpose of considering and voting on the proposed transaction. Per the Index's methodology guide, after the market closes on July 20, 2018, and effective on July 23, 2018, CNX Midstream Partners LP (NYSE: CNXM) will replace RMP as a constituent of the Index at RMP's then-current weight.
There will be no changes to the remaining constituents of the Index on that date.
ABOUT THE CUSHING® 30 MLP INDEX
The Cushing® 30 MLP Index tracks the performance of 30 publicly traded MLP securities that hold midstream energy infrastructure assets in North America, chosen according to a formula-based proprietary valuation model developed by Cushing® Asset Management, LP to rank MLPs for potential inclusion in the Index. The Index price level is calculated by S&P Dow Jones Indices and reported on a real-time basis under the Bloomberg ticker "MLPX".
ABOUT SWANK CAPITAL AND CUSHING® ASSET MANAGEMENT
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 which invest primarily in securities of MLPs and other natural resource companies.
Cushing is also dedicated to serving the needs of MLP and energy income investors by sponsoring a variety of industry benchmarks, including The Cushing® MLP Market Cap Index (Bloomberg Ticker: CMCI), The Cushing® MLP High Income Index (Bloomberg Ticker: MLPY), The Cushing® Energy Index (Bloomberg Ticker: CENI), The Cushing® Energy Supply Chain Index (Bloomberg Ticker: CSCI), The Cushing® Transportation Index (Bloomberg Ticker: CTRI) and The Cushing® Utility Index (Bloomberg Ticker: CUTI). For more information, please visit http://www.cushingasset.com/indices.
The Cushing® 30 MLP Index (the "Index") is the exclusive property of Swank Capital, LLC, and Cushing Asset Management, LP, which have contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) ("S&P Dow Jones Indices") to calculate and maintain 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 nor any of their affiliates sponsor and promote the Index and none shall be liable for any errors or omissions in calculating the Index.
SOURCE Cushing Asset Management, LP; Swank Capital, LLC