On November 2, 2023, Saba Capital Management, L.P. (Trades, Portfolio), a New York-based firm, increased its holdings in ClearBridge MLP & Midstream Fund Inc. (CEM, Financial) by adding 88,132 shares at a trade price of $36.4 per share. This transaction has increased the firm's total holdings in CEM to 1,900,676 shares, representing 1.8% of its portfolio and 14.3% of CEM's total shares.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio) is a firm that operates out of 405 Lexington Avenue, New York. The firm's investment philosophy is centered around a diversified portfolio with a focus on the Financial Services and Technology sectors. As of the date of this article, the firm holds 624 stocks with a total equity of $3.84 billion. Its 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).
ClearBridge MLP & Midstream Fund Inc. Overview
ClearBridge MLP & Midstream Fund Inc. is a non-diversified, closed-end management investment company based in the USA. The company's business model is primarily focused on investing in energy master limited partnerships (MLPs) and energy midstream entities. As of the date of this article, the company has a market capitalization of $487.498 million.
Stock Performance and Valuation
ClearBridge MLP & Midstream Fund Inc.'s stock is currently priced at $36.67, representing a year-to-date price change ratio of 13.49% and a price change of -63.33% since its IPO. The stock's GF Score is 41/100, indicating poor future performance potential. Unfortunately, due to insufficient data, the stock's GF Value cannot be evaluated.
Financial Health and Profitability
ClearBridge MLP & Midstream Fund Inc.'s financial strength is rated 5/10, while its profitability rank is 2/10. The company's negative ROE and ROA indicate poor profitability. The company operates in the Asset Management industry.
Stock's Momentum and Predictability
The stock's RSI 5 Day is 78.64, RSI 9 Day is 66.28, and RSI 14 Day is 59.71. Its Momentum Index 6 - 1 Month is 9.35 and Momentum Index 12 - 1 Month is 0.20. Unfortunately, due to insufficient data, the stock's predictability rank is not available.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of additional shares in ClearBridge MLP & Midstream Fund Inc. has increased its stake in the company. Despite the stock's poor GF Score and profitability rank, the firm's increased investment could indicate a belief in the company's potential. However, investors should conduct their own research and consider the company's financial health, profitability, and momentum before making 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.
