NEW YORK, July 27, 2020 (GLOBE NEWSWIRE) -- Fiduciary/Claymore Energy Infrastructure Fund’s (“FMO” or the “Fund”) today announced that the previously disclosed 1-for-5 reverse share split was executed today prior to the open of trading on the New York Stock Exchange (the “”) under which every five outstanding common shares of FMO were automatically converted into one common share. The Fund’s common shares will begin trading on a split-adjusted basis on the under the current ticker symbol (FMO, Financial), but with the new CUSIP number (31647Q205).
The reverse share split reduced the total number of the Fund’s outstanding shares and may help improve the Fund’s positioning in the marketplace and liquidity for new and existing shareholders. The reverse share split did not alter the rights or total value of a shareholder’s investment in the Fund, nor is it a taxable event for Fund investors.
No fractional shares will be issued as a result of the reverse share split. Shareholders who would otherwise have received fractional shares in the reverse share split will be paid an amount based on the amount of fractional shares held.
More Information About the Fund
The Fund's investment objective is to provide a high level of after-tax total return with an emphasis on current distributions paid to shareholders. Under normal market conditions, the Fund invests at least 80% of its managed assets in energy infrastructure master limited partnerships (“MLPs”) and other energy infrastructure companies (“energy infrastructure entities”) and invests at least 65% of its managed assets in equity securities of energy infrastructure entities. A substantial portion of the energy infrastructure entities in which the Fund invests are engaged primarily in the energy, natural resources and real estate sectors.
There can be no assurance that the Fund will achieve its investment objective. Investments in the Fund involve operating expenses and fees. The net asset value of the Fund will fluctuate with the value of the underlying securities. It is important to note that closed-end funds trade on their market value, not net asset value, and closed-end funds often trade at a discount to their net asset value.
About Guggenheim Investments
Guggenheim Investments includes Guggenheim Funds Investment Advisors, LLC (“GFIA”). GFIA serves as Investment Adviser for FMO. Tortoise Capital Advisors, L.L.C. serves as Investment Sub-Adviser for FMO and is not affiliated with Guggenheim.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security. The Fund has completed its initial public offering. Investors should consider their investment goals, time horizons and risk tolerance before investing in the Fund. An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. Investors should consider the investment objectives and policies, risk considerations, charges and expenses of any investment before they invest. For this and more information, visit www.guggenheiminvestments.com or contact a securities representative or Guggenheim Funds Distributors, LLC 227 West Monroe Street, Chicago, IL 60606, 800-345-7999.
Analyst Inquiries
William T. Korver
[email protected]
Not FDIC-Insured | Not Bank-Guaranteed | May Lose Value
Member FINRA/SIPC (07/20) 44167
