Saba Capital Management, L.P. Acquires Shares in ClearBridge Energy Midstream Opportunity Fund Inc
On September 21, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, added 2,515,299 shares of ClearBridge Energy Midstream Opportunity Fund Inc (NYSE:EMO) to its portfolio. This article provides an in-depth analysis of this transaction, the guru's profile, and the traded company's basic information.
Details of the Transaction
The transaction took place on September 21, 2023, with Saba Capital Management, L.P. (Trades, Portfolio) adding 13,985 shares of ClearBridge Energy Midstream Opportunity Fund Inc to its portfolio. This trade had a 0.01% impact on the guru's portfolio, bringing the total shares held by the guru in the traded stock to 2,515,299. The traded stock now represents 2.13% of the guru's portfolio, with the guru holding a 19.67% stake in the traded stock.
Profile of the Guru: 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 holds 624 stocks, with its top holdings being 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 total equity stands at $3.84 billion, with a significant investment focus on the Financial Services and Technology sectors.
Overview of the Traded Stock: ClearBridge Energy Midstream Opportunity Fund Inc
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 $412.646 million. The current price of the stock is $32.27. The stock's PE Percentage is 0.00, indicating that the company is currently at a loss. Due to a lack of data, the stock's GF Valuation cannot be evaluated. The stock's GF Score is 38/100, indicating a poor future performance potential.
Performance of the Stock
Since the transaction, the stock's price has decreased by 0.46%. Since its IPO in 2011, the stock's price has decreased by 65.87%. However, the year-to-date price change ratio of the stock is 16.96%. The stock's Piotroski F-Score is 4, indicating a poor financial health. The stock's Altman Z score is 0.00, indicating a high bankruptcy risk. The stock's ROE and ROA are -7.94 and -5.44, respectively, indicating a poor return on equity and assets.
Stock's Momentum and Predictability
The stock's RSI 5 Day, RSI 9 Day, and RSI 14 Day are 62.31, 60.14, and 58.25, respectively. The stock's Momentum Index 6 - 1 Month and Momentum Index 12 - 1 Month are 15.72 and 19.58, respectively. Due to a lack of data, the stock's Predictability Rank cannot be evaluated.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of shares in ClearBridge Energy Midstream Opportunity Fund Inc represents a significant addition to its portfolio. Despite the stock's poor performance and financial health, the guru's investment could potentially yield positive returns in the long run, given the firm's investment expertise and strategy. However, investors should conduct their own research and consider the stock's performance, financial health, and market conditions before making investment decisions.
This article first appeared on GuruFocus.
