DALLAS, May 11, 2016 /PRNewswire/ -- Swank Capital, LLC and Cushing® Asset Management, LP announce today an immediate constituent change to The Cushing® Upstream Energy Income Index (the "Index"). Per the Index's methodology guide, a constituent change due to a bankruptcy will take place immediately after a bankruptcy filing. Due to the May 11, 2016, bankruptcy filing by Linn Energy, LLC (NASDAQ: LINE), LINE will be removed from the Index after the market closes on May 11, 2016, and effective May 12, 2016, Mesa Royalty Trust (NYSE: MTR) will replace LINE at LINE's then-current weight.
There will be no changes to the remaining constituents of the Index.
ABOUT THE CUSHING® UPSTREAM ENERGY INCOME INDEX
The Index is designed to track the performance of publicly traded U.S. royalty trusts and upstream exploration and production ("Upstream") energy master limited partnerships ("MLPs"). The Index is currently comprised of 25 U.S. royalty trusts and Upstream MLPs, weighted on a float-adjusted market capitalization basis with the weight of each constituent capped at 7.5% at rebalance. The Index price level is calculated by S&P Dow Jones Indices while the constituents are selected from the entire universe of publicly traded U.S. royalty trusts and Upstream MLPs. The Index is quoted under the Bloomberg ticker "CRTY" as well as on a total-return basis, using end of day pricing, under the ticker "CRTYTR". For more information about the Index, please visit: www.swankcapital.com/the-cushing-indices.
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) and The Cushing® 30 MLP Index (Bloomberg Ticker: MLPX). For more information, please visit www.swankcapital.com/the-cushing-indices.
The Cushing® Upstream Energy 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 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 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.
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SOURCE Cushing Asset Management, LP; Swank Capital, LLC