On October 2, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based investment firm, added 30,772 shares of ClearBridge MLP & Midstream Fund Inc. (CEM, Financial) to its portfolio. The transaction, executed at a trade price of $34.68 per share, increased the firm's total holdings in CEM to 1,710,829 shares. This addition represents a trade change of 1.83% and has a minor impact of 0.03% on the firm's portfolio. The traded stock now constitutes 1.55% of the firm's portfolio, with the firm holding 12.87% of 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 an investment firm with a diverse portfolio. As of the date of this article, the firm holds 624 stocks, with a total equity of $3.84 billion. The firm's top holdings include Templeton Global Income Fund (GIM, Financial), BlackRock Capital Allocation Trust (BCAT, Financial), BlackRock Health Sciences Trust II (BMEZ, Financial), BlackRock Innovation & Growth Tr (BIGZ, Financial), and BlackRock ESG Capital Allocation Trust (ECAT, Financial). The firm's investments are primarily concentrated in the Financial Services and Technology sectors.
Overview of ClearBridge MLP & Midstream Fund Inc.
ClearBridge MLP & Midstream Fund Inc. (CEM, Financial) is a non-diversified, closed-end management investment company based in the USA. The company, which went public on June 25, 2010, primarily invests in energy master limited partnerships (MLPs) and energy midstream entities. As of October 4, 2023, the company has a market cap of $450.673 million and a stock price of $33.9. However, the company's PE percentage is currently not applicable as it is at a loss.
Performance and Future Potential of ClearBridge MLP & Midstream Fund Inc.
ClearBridge MLP & Midstream Fund Inc. has a GF Score of 40/100, indicating a poor future performance potential. The company's Financial Strength is ranked 5/10, while its Profitability Rank is 2/10. The company's Growth Rank is currently not applicable due to insufficient data. The company's Piotroski F-Score is 4, indicating a poor health trend. The company's Altman Z score is also not applicable, indicating a lack of data to assess its financial distress probability.
Industry Performance and Momentum of ClearBridge MLP & Midstream Fund Inc.
ClearBridge MLP & Midstream Fund Inc. operates in the Asset Management industry. The company's ROE and ROA are -8.16 and -5.61, respectively. The company's RSI 5 Day, RSI 9 Day, and RSI 14 Day are 10.17, 21.48, and 29.61, respectively. The company's Momentum Index 6 - 1 Month and Momentum Index 12 - 1 Month are 10.07 and 18.63, respectively.
Implications of the Transaction
The recent acquisition by Saba Capital Management, L.P. (Trades, Portfolio) indicates a strong belief in the potential of ClearBridge MLP & Midstream Fund Inc. Despite the company's current financial performance and growth potential, the investment firm sees value in increasing its stake in the company. This move could potentially influence other investors to consider adding CEM to their portfolios.
