DALLAS, Aug. 2, 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 May 16, 2018, Index
constituents The Williams Companies, Inc. (NYSE: WMB) and Williams
Partners L.P. (NYSE: WPZ) entered into an Agreement and Plan of
Merger wherein WMB would acquire WPZ, subject to the consent of WPZ
unitholders and the approval of the issuance of additional WMB
stock by WMB shareholders. An affiliated company of WMB and WPZ
holding a majority of limited partner interests in WPZ provided its
consent for the transaction on May 16. A special meeting of
WMB shareholders is scheduled for August 9,
2018, for the purpose of voting on the issuance of
additional WMB stock to effect the merger. Per the Index's
methodology guide, after the market closes on August 9, 2018,
and effective on August 10, 2018, Kinder Morgan, Inc. (NYSE: KMI) will replace WPZ
as a constituent of the Index at WPZ'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.
Contact:
Judson Redmond
214-692-6334
www.cushingasset.com
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.
CUSH-MLPX
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SOURCE Cushing Asset Management, LP; Swank Capital, LLC