Form 4: Franklin Resources Inc. Reports Changes in Beneficial Ownership of ClearBridge Energy Midstream Opportunity Fund Inc. (EMO)

Franklin Resources Inc. reports the sale of ClearBridge Energy Midstream Opportunity Fund Inc. (EMO) shares, affecting their beneficial ownership.

Summary

• Franklin Resources Inc. (FRI) filed a Form 4 detailing changes in its beneficial ownership of ClearBridge Energy Midstream Opportunity Fund Inc. (EMO).
• The transactions involved the sale of EMO common stock on October 16, 17, and 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 granted by Charles B. Johnson and Rupert H. Johnson, Jr., appointing several individuals as attorneys-in-fact for Section 13 and 16 reporting obligations.
• Charles B. Johnson and Rupert H. Johnson, Jr. also revoked previous Limited Powers of Attorney granted to Steven J. Gray and Lori A. Weber.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral.

Industry Context

This Form 4 filing is a routine disclosure related to changes in beneficial ownership, which is a common occurrence in the investment management industry. Franklin Resources, as an affiliate of the investment advisor, is required to report these transactions.

Stakeholder Impact

• The sale of shares by Franklin Resources Inc. could potentially influence the market price of EMO, impacting shareholders.
• The granting and revocation of powers of attorney are internal administrative matters that primarily affect the individuals involved and Franklin Resources' compliance processes.

Key Dates