Form 4: Franklin Resources Inc. Reports Transaction in ClearBridge Energy Midstream Opportunity Fund Inc. (EMO)
SEC Form 4 Filing
Franklin Resources Inc., an affiliate of the investment advisor for ClearBridge Energy Midstream Opportunity Fund Inc. (EMO), reports a transaction involving the sale of 9,704 shares of EMO common stock at $47.0624 per share on January 8, 2025.
Summary
- On January 8, 2025, Franklin Resources Inc. (FRI), an affiliate of the investment advisor for ClearBridge Energy Midstream Opportunity Fund Inc. (EMO), sold 9,704 shares of EMO common stock.
- The sale price was $47.0624 per share.
- This transaction is reported on a Form 4 filing with the SEC.
- The filing also corrects previously reported information regarding shares sold on December 11, 2024, and the amount of securities beneficially owned following that transaction.
- FRI acquired shares of EMO as a result of the merger of ClearBridge MLP and Midstream Total Return Fund Inc. (CTR) with and into EMO on September 9, 2024.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to a share transaction. It doesn't convey any particularly positive or negative sentiment.
Industry Context
This filing reflects the ongoing transactions and adjustments in holdings by investment advisors and affiliates within the energy midstream sector. Such transactions are a normal part of portfolio management and investment strategies.
Comparison to Industry Standards
- Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and related parties, as mandated by the SEC.
- The reporting requirements are consistent across all publicly traded companies and investment funds.
Stakeholder Impact
- The transaction may have a minor impact on shareholders due to the change in ownership, but it is unlikely to be significant given the size of the transaction relative to the overall market capitalization of EMO.
Key Dates
| Date | Description |
|---|---|
| 2023-12-11 | Date of Limited Power of Attorney and Revocation of Limited Power of Attorney |
| 2024-09-09 | Merger of ClearBridge MLP and Midstream Total Return Fund Inc. (CTR) with and into EMO |
| 2024-12-11 | Date of previously reported share sale that was corrected in this filing |
| 2025-01-08 | Date of the reported transaction: sale of 9,704 shares of EMO |
| 2025-03-06 | Date of the Form 4 filing |
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