ClearBridge MLP and Midstream Fund (NYSE:CEM) Stock Price Passes Above 200-Day Moving Average of $32.97

ClearBridge MLP and Midstream Fund Inc (NYSE:CEMGet Rating) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $32.97 and traded as high as $34.45. ClearBridge MLP and Midstream Fund shares last traded at $34.31, with a volume of 34,704 shares traded.

ClearBridge MLP and Midstream Fund Stock Up 0.7 %

The firm’s 50-day simple moving average is $34.18 and its 200 day simple moving average is $32.97.

ClearBridge MLP and Midstream Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Tuesday, November 22nd were given a $0.62 dividend. This is a boost from ClearBridge MLP and Midstream Fund’s previous quarterly dividend of $0.61. The ex-dividend date was Monday, November 21st. This represents a $2.48 annualized dividend and a yield of 7.23%.

Insiders Place Their Bets

In related news, major shareholder Prudential Financial Inc purchased 285,715 shares of ClearBridge MLP and Midstream Fund stock in a transaction dated Thursday, November 17th. The stock was bought at an average cost of $35.00 per share, with a total value of $10,000,025.00. Following the purchase, the insider now owns 285,715 shares in the company, valued at approximately $10,000,025. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Institutional Trading of ClearBridge MLP and Midstream Fund

A number of institutional investors have recently made changes to their positions in CEM. Saba Capital Management L.P. lifted its stake in shares of ClearBridge MLP and Midstream Fund by 222.5% in the 3rd quarter. Saba Capital Management L.P. now owns 580,193 shares of the investment management company’s stock worth $17,290,000 after acquiring an additional 400,292 shares during the period. HBK Sorce Advisory LLC acquired a new stake in ClearBridge MLP and Midstream Fund during the third quarter valued at approximately $215,000. Bank of America Corp DE lifted its stake in ClearBridge MLP and Midstream Fund by 29.8% during 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 purchasing an additional 104,961 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in ClearBridge MLP and Midstream Fund during the first quarter valued at approximately $2,483,000. Finally, Cornerstone Advisors LLC lifted its stake in ClearBridge MLP and Midstream Fund by 28.7% during the third quarter. Cornerstone Advisors LLC now owns 293,045 shares of the investment management company’s stock valued at $8,733,000 after purchasing an additional 65,300 shares during the last quarter.

ClearBridge MLP and Midstream Fund Company Profile

(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.

Further Reading

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