Saba Capital Management, L.P., a New York-based investment firm, recently added 10815 shares of ClearBridge Energy MLP Total Return Fund (CTR, Financial) to its portfolio. The transaction took place on September 8, 2023, and resulted in a 1.11% change in the firm's holdings. ClearBridge Energy MLP Total Return Fund is a non-diversified, closed-end management investment company based in the United States. Its primary objective is to provide a high level of total return consisting of cash distributions and capital appreciation.
Details of the Transaction
The transaction had a minor impact of 0.01% on Saba Capital's portfolio. The shares were acquired at a price of $31.83 each, bringing the total number of shares held by the firm to 985,542. This represents 0.82% of the firm's portfolio and 14.30% of the total shares of ClearBridge Energy MLP Total Return Fund. Interestingly, the current stock price stands slightly lower at $31.6, indicating a marginal decrease since the transaction.
Profile of Saba Capital Management, L.P.
Saba Capital Management, L.P., located at 405 Lexington Avenue, New York, NY 10174, is an investment firm with a diverse portfolio. The firm currently 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). The firm's investments are primarily concentrated in the Financial Services and Technology sectors.
Analysis of the Traded Stock
ClearBridge Energy MLP Total Return Fund, traded under the symbol CTR, is a US-based company with a market capitalization of $217.624 million. The company's performance metrics reveal a PE percentage of 0.00, indicating that the company is currently at a loss. The GF Value, which represents the current intrinsic value of a stock, is not applicable in this case due to insufficient data. The stock has experienced a decrease of 0.72% since the transaction and a significant decrease of 68.79% since its IPO. However, the year-to-date performance shows a positive trend with a 14.87% increase. The GF Score of the stock stands at 40/100, suggesting a poor future performance potential.
Financial Health of the Traded Stock
The financial health of ClearBridge Energy MLP Total Return Fund, as indicated by its balance sheet rank of 5/10 and profitability rank of 2/10, is moderate. The company's growth rank is not applicable due to insufficient data. The company's cash to debt ratio is also not available. The company's ROE and ROA stand at -6.69 and -4.77 respectively, placing it at ranks 1191 and 1198 in these categories.
Industry Position and Momentum of the Traded Stock
Operating in the Asset Management industry, ClearBridge Energy MLP Total Return Fund's gross margin growth and operating margin growth are not available due to insufficient data. The stock's momentum, as indicated by its RSI 5 day, RSI 9 day, RSI 14 day, and momentum index, stands at 36.49, 37.51, 41.05, 20.21, and 12.02 respectively. The predictability rank of the stock is not available.
In conclusion, the recent acquisition by Saba Capital Management, L.P. has slightly increased its stake in ClearBridge Energy MLP Total Return Fund. However, the stock's current performance and future potential, as indicated by its GF Score and other financial metrics, suggest a cautious approach for potential investors.
