Form 4: Franklin Resources Inc. Reports Changes in Beneficial Ownership of ClearBridge Energy Midstream Opportunity Fund Inc. (EMO)
SEC Form 4
Franklin Resources Inc. reports the sale of ClearBridge Energy Midstream Opportunity Fund Inc. (EMO) shares, affecting its beneficial ownership.
Summary
- Franklin Resources Inc. (FRI) has filed a Form 4 detailing changes in its beneficial ownership of ClearBridge Energy Midstream Opportunity Fund Inc. (EMO).
- The transactions involve the sale of EMO common stock on October 16, 2024, October 17, 2024, and October 18, 2024.
- On October 16, 2024, 8,467 shares were sold at a price of $43.6923 per share.
- On October 17, 2024, 6,600 shares were sold at a price of $43.686 per share.
- On October 18, 2024, 7,900 shares were sold at a price of $43.7108 per share.
- Following these transactions, Franklin Resources Inc. directly owns 36,519 shares of EMO common stock.
- The filing also includes a Limited Power of Attorney and Revocation of Limited Power of Attorney related to Section 13 and 16 reporting obligations.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document primarily reports transactions and administrative updates.
Industry Context
This filing reflects routine transactions related to beneficial ownership and is common for investment firms like Franklin Resources.
Comparison to Industry Standards
- Form 4 filings are standard practice for reporting changes in beneficial ownership as per SEC regulations.
- The transactions are similar to those seen with other investment management firms adjusting their holdings in publicly traded companies.
Stakeholder Impact
- The share sales may have a minor impact on the market price of EMO.
- The changes in power of attorney primarily affect internal administrative processes at Franklin Resources.
Key Dates
| Date | Description |
|---|---|
| 2023-12-11 | Charles B. Johnson and Rupert H. Johnson, Jr. revoked previous Limited Powers of Attorney granted to Steven J. Gray and Lori A. Weber. |
| 2023-12-11 | Charles B. Johnson and Rupert H. Johnson, Jr. granted Limited Powers of Attorney to Alison E. Baur, Thomas C. Mandia, Beth McAuley OMalley, Thomas C. Merchant, Kimberly H. Novotny, Virginia E. Rosas and Navid J. Tofigh. |
| 2024-09-09 | FRI acquired shares of ClearBridge Energy Midstream Opportunity Fund Inc. (EMO) as a result of the merger of CTR with and into EMO. |
| 2024-10-16 | Sale of 8,467 shares of EMO at $43.6923 per share. |
| 2024-10-17 | Sale of 6,600 shares of EMO at $43.686 per share. |
| 2024-10-18 | Sale of 7,900 shares of EMO at $43.7108 per share. |
| 2024-10-18 | Date of Form 4 filing. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.