Saba Capital Management, L.P. Increases Stake in ClearBridge Energy Midstream Opportunity Fund Inc
On October 27, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based firm, added 10,380 shares of ClearBridge Energy Midstream Opportunity Fund Inc (NYSE:EMO) to its portfolio. The shares were acquired at a price of $31.23 per share, bringing the firm's total holdings in EMO to 2,694,489 shares. This transaction had a 0.01% impact on the firm's portfolio and increased its position in EMO by 0.39%.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio) is a firm that specializes in investing in the Financial Services and Technology sectors. The firm's portfolio consists 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).
ClearBridge Energy Midstream Opportunity Fund Inc Overview
ClearBridge Energy Midstream Opportunity Fund Inc (NYSE:EMO) is a non-diversified, closed-end management investment company based in the USA. The company operates in a single segment and has a market capitalization of $397.685 million. Its investment objective is to provide long-term investors with a high level of total return with an emphasis on cash distributions. The company's stock is currently priced at $31.1, reflecting a year-to-date price change ratio of 12.72% and a price change since its IPO of -67.11%. The company's GF Score is 39/100, indicating poor future performance potential, and its Momentum Rank is 10/10, indicating strong momentum.
Financial Health and Profitability
ClearBridge Energy Midstream Opportunity Fund Inc's financial health is reflected in its Balance Sheet Rank of 5/10 and Profitability Rank of 1/10. The company's profitability is currently negative, with a ROE of -7.94 and a ROA of -5.44. The company's Piotroski F-Score is 4, indicating a weak financial situation.
Position of EMO in Saba Capital Management, L.P. (Trades, Portfolio)'s Portfolio
Following the recent transaction, EMO now constitutes 2.19% of Saba Capital Management, L.P. (Trades, Portfolio)'s portfolio. The firm's holdings in EMO represent 21.07% of the total shares of the company. This indicates a significant stake in the company and reflects the firm's confidence in EMO's future performance.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of additional shares in ClearBridge Energy Midstream Opportunity Fund Inc is a strategic move that increases its exposure to the Financial Services sector. Despite EMO's poor profitability and financial health, the firm's strong momentum and the firm's significant stake in the company suggest potential for future growth. However, investors should monitor the company's financial performance and the firm's investment activities closely to make informed 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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