ClearBridge Energy MLP Fund Inc (NYSE:CEM) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 342,449 shares, a drop of 42.6% from the January 12th total of 596,309 shares. Based on an average daily trading volume, of 252,545 shares, the short-interest ratio is presently 1.4 days. Currently, 0.5% of the shares of the stock are short sold.
In related news, insider Chris Eades acquired 1,830 shares of ClearBridge Energy MLP Fund stock in a transaction dated Monday, December 11th. The shares were purchased at an average price of $13.71 per share, for a total transaction of $25,089.30. Following the completion of the transaction, the insider now directly owns 6,430 shares in the company, valued at approximately $88,155.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
A number of institutional investors and hedge funds have recently made changes to their positions in CEM. Luminus Management LLC bought a new stake in ClearBridge Energy MLP Fund in the fourth quarter worth $179,000. Murphy Capital Management Inc. bought a new stake in ClearBridge Energy MLP Fund in the fourth quarter worth $211,000. Creative Planning bought a new stake in ClearBridge Energy MLP Fund in the fourth quarter worth $242,000. PNC Financial Services Group Inc. increased its position in ClearBridge Energy MLP Fund by 25.4% in the second quarter. PNC Financial Services Group Inc. now owns 20,797 shares of the investment management company’s stock worth $318,000 after purchasing an additional 4,208 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in ClearBridge Energy MLP Fund in the third quarter worth $426,000.
Shares of ClearBridge Energy MLP Fund (NYSE CEM) opened at $16.27 on Thursday. ClearBridge Energy MLP Fund has a 1 year low of $12.10 and a 1 year high of $17.70.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Friday, February 16th will be given a $0.355 dividend. This represents a $1.42 annualized dividend and a yield of 8.73%. The ex-dividend date of this dividend is Thursday, February 15th.
ClearBridge Energy MLP Fund Company Profile
ClearBridge Energy MLP Fund Inc (the Fund) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to provide a high level of total return with an emphasis on cash distributions. The Fund seeks to achieve its objective by investing primarily in master limited partnerships (MLPs) in the energy sector.
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