Form 4: Franklin Resources Inc. Reports Share Transaction in ClearBridge Energy Midstream Opportunity Fund Inc.

Franklin Resources Inc., an affiliate of the investment advisor for ClearBridge Energy Midstream Opportunity Fund Inc., reported the acquisition of 1,124 shares of the fund's common stock at a price of $46.0257 per share on December 27, 2024.

Summary

• Franklin Resources Inc. (FRI), an affiliate of the investment advisor for ClearBridge Energy Midstream Opportunity Fund Inc. (EMO), reported a transaction involving the acquisition of 1,124 shares of EMO common stock.
• The transaction occurred on December 27, 2024, with the shares acquired at a price of $46.0257 per share.
• Following this transaction, FRI's total direct holdings in EMO amount to 16,976 shares.
• The shares were acquired as a result of a merger between ClearBridge MLP and Midstream Total Return Fund Inc. (CTR) and EMO on September 9, 2024, where FRI previously held shares of CTR.
• The filing also includes a Limited Power of Attorney document, granting certain individuals the authority to file SEC forms on behalf of Charles B. Johnson and Rupert H. Johnson, Jr., and revoking previous powers of attorney granted to Steven J. Gray and Lori A. Weber.

Sentiment

Score: 7

Explanation: The document reflects standard regulatory filings and corporate actions, indicating a neutral to slightly positive sentiment due to the completion of the merger and the reporting of the share transaction. There are no indications of any negative events.

Industry Context

This filing reflects routine transactions and administrative updates within the investment management industry, specifically related to closed-end funds and their investment advisors. The merger between CTR and EMO is a common strategy to consolidate funds and optimize investment strategies.

Comparison to Industry Standards

• The reporting of share transactions by investment advisors is a standard practice in the financial industry, ensuring transparency and compliance with SEC regulations.
• The use of Limited Powers of Attorney for SEC reporting is a common practice among corporate officers and directors, allowing designated individuals to handle regulatory filings.
• The merger of closed-end funds, such as the one between CTR and EMO, is a typical strategy to improve fund efficiency and performance, and is often seen in the industry.

Stakeholder Impact

• The share transaction has a minor positive impact on shareholders of EMO, as it reflects continued investment by the investment advisor's affiliate.
• The administrative changes related to the power of attorney have no direct impact on stakeholders.

Key Dates

Keywords

Franklin Resources Inc, ClearBridge Energy Midstream Opportunity Fund Inc, share acquisition, SEC Form 4, merger, power of attorney, investment advisor, beneficial ownership