Franklin Limited Duration Income Trust (NYSEAMERICAN:FTF) Stock Price Passes Above Fifty Day Moving Average – Here’s What Happened

Franklin Limited Duration Income Trust (NYSEAMERICAN:FTF)’s stock price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $6.16 and traded as high as $6.21. Franklin Limited Duration Income Trust shares last traded at $6.19, with a volume of 117,218 shares changing hands.

Franklin Limited Duration Income Trust Price Performance

The company has a 50-day moving average price of $6.16 and a 200 day moving average price of $6.25.

Franklin Limited Duration Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be given a dividend of $0.0615 per share. This represents a c) annualized dividend and a dividend yield of 11.9%. The ex-dividend date of this dividend is Tuesday, March 24th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FTF. Stifel Financial Corp lifted its position in Franklin Limited Duration Income Trust by 157.5% during the fourth quarter. Stifel Financial Corp now owns 63,142 shares of the company’s stock valued at $388,000 after acquiring an additional 38,622 shares during the last quarter. Quarry LP acquired a new position in shares of Franklin Limited Duration Income Trust during the fourth quarter worth $1,185,000. Jane Street Group LLC lifted its holdings in shares of Franklin Limited Duration Income Trust by 97.2% during the 4th quarter. Jane Street Group LLC now owns 81,224 shares of the company’s stock valued at $500,000 after purchasing an additional 40,043 shares during the last quarter. Kovack Advisors Inc. boosted its position in shares of Franklin Limited Duration Income Trust by 189.5% in the 4th quarter. Kovack Advisors Inc. now owns 30,465 shares of the company’s stock worth $187,000 after purchasing an additional 19,940 shares in the last quarter. Finally, BlackDiamond Wealth Management LLC acquired a new stake in shares of Franklin Limited Duration Income Trust in the 4th quarter worth $63,000.

Franklin Limited Duration Income Trust Company Profile

Franklin Limited Duration Income Trust (NYSE American: FTF) is a diversified, closed-end management investment company that seeks to provide current income while maintaining a limited interest-rate risk profile. The trust primarily invests in a portfolio of investment-grade fixed-income securities, including corporate bonds, U.S. government and agency obligations, mortgage-backed securities and asset-backed securities. By concentrating on higher-quality credits, the fund aims to deliver a steady stream of income while moderating the impact of rising or volatile interest rates on its net asset value.

To manage duration risk, FTF maintains a target portfolio duration that is shorter than that of broad bond-market indices, typically ranging between two and five years.