FEN: Impending ETF Conversion Makes This Fund A Good Short-Term Play [Seeking Alpha]
ClearBridge MLP and Midstream Fund Inc. (CEM)
US:NYSE Investor Relations:
leggmason.com/en-us/products/closed-end-funds/clearbridge-energy-mlp-fund-inc.html
Company Research
Source: Seeking Alpha
The fund has historically performed well and did not decline as much as other midstream funds during the COVID-19 pandemic. However, the fund's current yield of 7.43% is lower than some other options in the space. The fund fully covered its distributions during the most recent fiscal year and currently trades at a small discount on net asset value. The fund is converting into an ETF within the next month, which will erase the discount and should hand investors an easy capital gain. This idea was discussed in more depth with members of my private investing community, Energy Profits in Dividends. Learn More » The First Trust Energy Income and Growth Fund NYSE: FEN ) is a closed-end fund, or CEF, that investors can use in order to add a number of midstream partnerships to their retirement accounts without the tax hassles that can sometimes accompany that. The fund has also been a historically good performer, as it did not decline nearly as much as some other midstream funds ba
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CEM
News
- ClearBridge Energy Midstream Opportunity Fund Inc. Announces Completion of Mergers and Share Conversion Prices [Yahoo! Finance]Yahoo! Finance
- ClearBridge MLP and Midstream Fund Inc. Announces Unaudited Balance Sheet Information as of August 31, 2024Business Wire
- ClearBridge MLP and Midstream Fund Inc. Announces Unaudited Balance Sheet Information as of July 31, 2024Business Wire
- Franklin Templeton Fund Adviser, LLC Announces Distributions for the Month of August 2024 [Yahoo! Finance]Yahoo! Finance
- Franklin Templeton Fund Adviser, LLC Announces Distributions for the Month of August 2024Business Wire
CEM
Sec Filings
- 9/9/24 - Form 25-NSE
- 8/16/24 - Form N-PX
- 7/30/24 - Form N-CSRS
- CEM's page on the SEC website