DALLAS, July 24, 2015 /PRNewswire/ -- Swank Capital, LLC and Cushing® Asset Management, LP announce an interim change to the constituents of The Cushing® MLP High Income Index (the "Index"). Per the Index's methodology guide, a constituent change due to a distribution cut will take place at the earlier of the ex-date or the end of the current month. Summit Midstream Partners, LP (NYSE: SMLP) will replace Hi-Crush Partners LP (NYSE: HCLP) as a constituent of the Index due to the July 21, 2015, announcement by HCLP of a reduction in its quarterly distribution. The constituent change will take place after the market closes on July 31, 2015, (the last trading day in July 2015) and will become effective on August 3, 2015.
The remaining constituents of the Index will be unaffected.
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 publicly traded energy and shipping master limited partnership (MLP) securities with an emphasis on current yield. The securities are chosen for inclusion according to a three-tier 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 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® 30 MLP Index (Bloomberg Ticker: MLPX), The Cushing® MLP Market Cap Index (Bloomberg Ticker: CMCI) and The Cushing® Upstream Energy Income Index (Bloomberg Ticker: CRTY). For more information, please visit www.swankcapital.com/the-cushing-indices.
The Cushing® MLP High Income Index (the "Index") is the exclusive property of 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 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.
SOURCE Cushing® Asset Management, LP and Swank Capital, LLC