Saba Capital Management, L.P. Increases Stake in ClearBridge Energy MLP Total Return Fund
Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, has recently increased its stake in ClearBridge Energy MLP Total Return Fund (NYSE:CTR). The transaction, which took place on October 5, 2023, saw the firm acquire an additional 103,1394 shares in CTR. This move is of significant interest to value investors, as it may signal a strong belief in the future performance of the traded stock.
Details of the Transaction
The transaction involved the addition of 103,1394 shares of ClearBridge Energy MLP Total Return Fund by Saba Capital Management, L.P. (Trades, Portfolio) The shares were acquired at a price of $29.94 each, resulting in a 0.30% change in the firm's holdings. This transaction has increased the firm's total holdings in CTR to 14.97%, making it a significant part of its portfolio with a position of 0.81%. The impact of this transaction on the firm's portfolio is currently not applicable.
Profile of Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio), located at 405 Lexington Avenue, New York, NY 10174, is an investment firm with a diverse portfolio. The firm currently holds 624 stocks, with a total equity of $3.84 billion. Its top holdings include Templeton Global Income Fund (NYSE:GIM), BlackRock Capital Allocation Trust (NYSE:BCAT), BlackRock Health Sciences Trust II (NYSE:BMEZ), BlackRock Innovation & Growth Tr (NYSE:BIGZ), and BlackRock ESG Capital Allocation Trust (NYSE:ECAT). The firm's investments are primarily concentrated in the Financial Services and Technology sectors.
Overview of ClearBridge Energy MLP Total Return Fund
ClearBridge Energy MLP Total Return Fund (NYSE:CTR) is a non-diversified, closed-end management investment company based in the United States. The company operates in a single segment and aims to provide a high level of total return consisting of cash distributions and capital appreciation. As of October 7, 2023, the company has a market capitalization of $211.081 million. The stock is currently trading at $30.65, marking a 2.37% gain since the transaction. However, the company's PE percentage is currently not applicable, indicating that it is operating at a loss. The GF Value of the stock is also not available, making it impossible to evaluate its valuation.
Evaluation of ClearBridge Energy MLP Total Return Fund's Financial Health
ClearBridge Energy MLP Total Return Fund's financial health can be evaluated using various metrics. The company's Financial Strength is ranked 5/10, while its Profitability Rank is 1/10. The company's Growth Rank and GF Value Rank are both not applicable due to insufficient data. However, the company's Momentum Rank is 10/10, indicating strong momentum. The company's Piotroski F-Score is 4, and its Altman Z score is not applicable, indicating potential financial distress.
Analysis of ClearBridge Energy MLP Total Return Fund's Performance Metrics
ClearBridge Energy MLP Total Return Fund's performance metrics reveal a negative ROE of -6.69 and a negative ROA of -4.77. The company's gross margin growth, operating margin growth, and three-year revenue growth are all not applicable due to insufficient data. The company's RSI 14 Day is 31.63, and its Momentum Index 6 - 1 Month is 10.71, indicating potential overbought conditions.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of additional shares in ClearBridge Energy MLP Total Return Fund is a significant move that may have implications for value investors. While the financial health and performance metrics of CTR indicate potential challenges, the firm's increased stake may signal a belief in the stock's future performance. However, investors should conduct their own due diligence before making investment decisions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
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