Saba Capital Management, L.P. Boosts Stake in ClearBridge Energy MLP Total Return Fund
On September 25, 2023, Saba Capital Management, L.P. (Trades, Portfolio) added 102,8258 shares of ClearBridge Energy MLP Total Return Fund (NYSE:CTR) to its portfolio. The transaction saw a trade change of 2.23%, with a share change of 22,396. The trade had a minor impact of 0.02% on the guru's portfolio, with the traded stock now accounting for 0.88% of the total portfolio. The shares were acquired at a price of $32.98 each, bringing the total shares held by the guru in CTR to 1,028,258, representing 14.92% of the guru's holdings in the traded stock.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio), located at 405 Lexington Avenue, New York, NY 10174, is a firm that holds 624 stocks in its portfolio. The firm's 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 equity stands at $3.84 billion, with a strong focus on the Financial Services and Technology sectors.
ClearBridge Energy MLP Total Return Fund Overview
ClearBridge Energy MLP Total Return Fund (NYSE:CTR) is a non-diversified, closed-end management investment company based in the United States. Its primary objective is to provide a high level of total return consisting of cash distributions and capital appreciation. The company operates in a single segment. As of September 26, 2023, the company's market capitalization stands at $227.128 million, with a current stock price of $32.98. The company's PE percentage is not applicable as it is currently at a loss. The GF Value of the stock is also not applicable, hence the stock cannot be evaluated based on the GF Valuation.
Performance of ClearBridge Energy MLP Total Return Fund
CTR has seen a year-to-date price change ratio of 19.88%, despite a significant drop of 67.43% since its Initial Public Offering (IPO). The stock's GF Score stands at 41/100, indicating poor future performance potential. The company's Financial Strength is ranked 5/10, while its Profitability Rank is 2/10. The Growth Rank is not applicable due to insufficient data. The company's Piotroski F-Score is 4, indicating average financial health.
Industry Performance and Predictability of ClearBridge Energy MLP Total Return Fund
CTR operates in the Asset Management industry. The company's Return on Equity (ROE) stands at -6.69, ranking 1268th in the industry, while its Return on Assets (ROA) is -4.77, ranking 1279th. The company's gross margin growth, operating margin growth, and 3-year revenue growth are not applicable due to insufficient data. The stock's RSI 5 Day stands at 62.11, RSI 9 Day at 55.03, and RSI 14 Day at 51.96. The stock's momentum index 6 - 1 month is 22.22, and momentum index 12 - 1 month is 28.12. The predictability rank of the stock is not available.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of ClearBridge Energy MLP Total Return Fund shares represents a strategic move to diversify its portfolio. Despite CTR's poor performance indicators, the firm's investment could potentially yield returns in the long run. However, value investors should exercise caution and conduct thorough research before making investment decisions.
This article first appeared on GuruFocus.
