Short Interest in ClearBridge MLP and Midstream Fund Inc (NYSE:CEM) Expands By 615.0%

ClearBridge MLP and Midstream Fund Inc (NYSE:CEMGet Free Report) was the recipient of a significant growth in short interest in January. As of January 31st, there was short interest totalling 42,900 shares, a growth of 615.0% from the January 15th total of 6,000 shares. Based on an average trading volume of 54,000 shares, the days-to-cover ratio is currently 0.8 days.

Insider Activity at ClearBridge MLP and Midstream Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 28,533 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was purchased at an average cost of $36.79 per share, for a total transaction of $1,049,729.07. Following the completion of the acquisition, the insider now directly owns 2,089,910 shares of the company’s stock, valued at approximately $76,887,788.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 65,559 shares of company stock worth $2,475,254 over the last three months.

Hedge Funds Weigh In On ClearBridge MLP and Midstream Fund

Several hedge funds and other institutional investors have recently bought and sold shares of CEM. Saba Capital Management L.P. grew its stake in shares of ClearBridge MLP and Midstream Fund by 17.4% during the 3rd quarter. Saba Capital Management L.P. now owns 1,680,057 shares of the investment management company’s stock worth $59,188,000 after purchasing an additional 248,594 shares during the period. Bank of America Corp DE lifted its position in shares of ClearBridge MLP and Midstream Fund by 29.8% during the 1st quarter. Bank of America Corp DE now owns 457,361 shares of the investment management company’s stock valued at $15,422,000 after buying an additional 104,961 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of ClearBridge MLP and Midstream Fund by 66.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 197,835 shares of the investment management company’s stock valued at $6,970,000 after buying an additional 78,667 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in shares of ClearBridge MLP and Midstream Fund during the 1st quarter valued at approximately $2,483,000. Finally, Woodline Partners LP lifted its position in shares of ClearBridge MLP and Midstream Fund by 33.5% during the 2nd quarter. Woodline Partners LP now owns 225,745 shares of the investment management company’s stock valued at $7,827,000 after buying an additional 56,639 shares in the last quarter.

ClearBridge MLP and Midstream Fund Stock Up 1.8 %

Shares of ClearBridge MLP and Midstream Fund stock opened at $41.09 on Tuesday. The company has a 50 day moving average price of $39.44 and a 200 day moving average price of $37.35. ClearBridge MLP and Midstream Fund has a 52 week low of $29.22 and a 52 week high of $41.75.

ClearBridge MLP and Midstream Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 29th. Investors of record on Thursday, February 22nd will be issued a $0.77 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $3.08 annualized dividend and a yield of 7.50%.

About ClearBridge MLP and Midstream Fund

(Get Free Report)

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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