ClearBridge MLP and Midstream Fund Inc (NYSE:CEM) Major Shareholder Prudential Financial Inc Acquires 285,715 Shares of Stock

ClearBridge MLP and Midstream Fund Inc (NYSE:CEMGet Rating) major shareholder Prudential Financial Inc purchased 285,715 shares of the company’s stock in a transaction on Thursday, November 17th. The shares were bought at an average cost of $35.00 per share, with a total value of $10,000,025.00. Following the transaction, the insider now directly owns 285,715 shares of the company’s stock, valued at approximately $10,000,025. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

ClearBridge MLP and Midstream Fund Price Performance

ClearBridge MLP and Midstream Fund stock opened at $34.49 on Tuesday. The stock has a fifty day moving average of $33.17 and a two-hundred day moving average of $32.84. ClearBridge MLP and Midstream Fund Inc has a fifty-two week low of $24.65 and a fifty-two week high of $37.99.

ClearBridge MLP and Midstream Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Tuesday, November 22nd will be issued a dividend of $0.62 per share. This is a boost from ClearBridge MLP and Midstream Fund’s previous quarterly dividend of $0.61. The ex-dividend date is Monday, November 21st. This represents a $2.48 annualized dividend and a dividend yield of 7.19%.

Institutional Investors Weigh In On ClearBridge MLP and Midstream Fund

Several hedge funds have recently made changes to their positions in CEM. Saba Capital Management L.P. boosted its holdings in shares of ClearBridge MLP and Midstream Fund by 222.5% during the third quarter. Saba Capital Management L.P. now owns 580,193 shares of the investment management company’s stock worth $17,290,000 after purchasing an additional 400,292 shares during the last quarter. HBK Sorce Advisory LLC acquired a new position in ClearBridge MLP and Midstream Fund in the third quarter valued at $215,000. Sit Investment Associates Inc. boosted its holdings in ClearBridge MLP and Midstream Fund by 34.3% in the first quarter. Sit Investment Associates Inc. now owns 521,292 shares of the investment management company’s stock valued at $17,578,000 after acquiring an additional 133,131 shares during the last quarter. Bank of America Corp DE boosted its holdings in ClearBridge MLP and Midstream Fund by 29.8% in the first quarter. Bank of America Corp DE now owns 457,361 shares of the investment management company’s stock valued at $15,422,000 after acquiring an additional 104,961 shares during the last quarter. Finally, 1832 Asset Management L.P. purchased a new position in ClearBridge MLP and Midstream Fund in the first quarter valued at about $2,483,000.

About ClearBridge MLP and Midstream Fund

(Get Rating)

ClearBridge Energy MLP Fund Inc is a closed-ended equity mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Clearbridge Advisors, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating in the energy sector.

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