Chris Eades, portfolio manager at ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE:EMO), reported the sale of 23,500 shares of the company's common stock. The transaction, dated October 25, 2024, was executed at an average price of $43.995 per share, amounting to a total value of approximately $1,033,882. Following the sale, Eades holds 14,384 shares, which include shares acquired through mergers and the fund's Dividend Reinvestment Plan. The shares are jointly owned with his spouse.
InvestingPro Insights
As Chris Eades reduces his stake in ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE:EMO), investors might find additional context in the company's financial metrics and market performance. According to InvestingPro data, EMO boasts a market capitalization of $785.46 million and trades at a P/E ratio of 8.25, suggesting a potentially attractive valuation relative to earnings.
One of the standout features of EMO is its impressive dividend yield of 9.31%, with the most recent ex-dividend date on October 24, 2024. This aligns with an InvestingPro Tip highlighting that EMO "pays a significant dividend to shareholders." Moreover, the company has maintained dividend payments for 14 consecutive years, demonstrating a commitment to returning value to investors.
EMO's stock performance has been robust, with a year-to-date total return of 30.12% and a one-year total return of 47.16%. The stock is currently trading at 96.33% of its 52-week high, which corresponds to another InvestingPro Tip noting that EMO is "trading near 52-week high."
For investors seeking a more comprehensive analysis, InvestingPro offers additional tips and insights. Currently, there are 6 more InvestingPro Tips available for EMO, which could provide valuable guidance for those considering an investment in the fund.
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