Saba Capital Management, L.P. Boosts Stake in ClearBridge Energy Midstream Opportunity Fund Inc
On November 2, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, increased its holdings in ClearBridge Energy Midstream Opportunity Fund Inc (NYSE:EMO). The firm added 31,783 shares at a price of $32.82 per share, bringing its total holdings to 2,826,700 shares. This transaction represents a 2.42% position in the firm's portfolio and a 22.10% stake in ClearBridge Energy Midstream Opportunity Fund Inc.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio) is a prominent investment firm located at 405 Lexington Avenue, New York. The firm manages a diverse portfolio of 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 primarily focuses on the Financial Services and Technology sectors.
ClearBridge Energy Midstream Opportunity Fund Inc: A Brief Overview
ClearBridge Energy Midstream Opportunity Fund Inc (NYSE:EMO) is a non-diversified, closed-end management investment company based in the USA. The company's primary objective is to provide long-term investors with a high level of total return, with an emphasis on cash distributions. The company operates in a single segment and has a market capitalization of $423.643 million.
Stock Performance and Valuation
As of November 4, 2023, ClearBridge Energy Midstream Opportunity Fund Inc's stock price stands at $33.13. Since its IPO on June 10, 2011, the stock has decreased by 64.96%. However, the stock has shown a positive year-to-date price change ratio of 20.08%. Unfortunately, due to insufficient data, the GF Valuation cannot be evaluated.
Financial Health and Profitability
ClearBridge Energy Midstream Opportunity Fund Inc has a GF Score of 39/100, indicating poor future performance potential. The company's Financial Strength is ranked 5/10, while its Profitability Rank is 1/10. The company's Growth Rank is 0/10, indicating a lack of growth. The company's ROE and ROA are negative, ranking 1342 and 1335 respectively.
Momentum and Predictability
ClearBridge Energy Midstream Opportunity Fund Inc has a Momentum Rank of 10/10, indicating strong momentum. The company's RSI 5 Day, RSI 9 Day, and RSI 14 Day are 81.83, 70.29, and 63.79 respectively. The company's Momentum Index 6 - 1 Month and Momentum Index 12 - 1 Month are 13.43 and 6.80 respectively.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of ClearBridge Energy Midstream Opportunity Fund Inc shares could potentially influence the stock's performance and the firm's portfolio. Despite the company's poor GF Score and negative ROE and ROA, its strong momentum could present an opportunity for future growth. However, investors should exercise caution due to the company's low profitability and growth ranks. All data and rankings are accurate as of November 4, 2023.
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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