Franklin Limited Duration Income Trust (NYSEAMERICAN:FTF) Stock Passes Below 50 Day Moving Average – Here’s Why

Franklin Limited Duration Income Trust (NYSEAMERICAN:FTF) crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $6.12 and traded as low as $5.85. Franklin Limited Duration Income Trust shares last traded at $5.85, with a volume of 207,557 shares traded.

Franklin Limited Duration Income Trust Price Performance

The firm’s 50-day simple moving average is $6.12 and its 200 day simple moving average is $6.18.

Franklin Limited Duration Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be issued a $0.0615 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date of this dividend is Tuesday, March 24th.

Hedge Funds Weigh In On Franklin Limited Duration Income Trust

Several institutional investors and hedge funds have recently bought and sold shares of FTF. Kingsview Wealth Management LLC bought a new position in shares of Franklin Limited Duration Income Trust during the 2nd quarter worth $173,000. Advisors Asset Management Inc. raised its stake in Franklin Limited Duration Income Trust by 25.0% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,040,829 shares of the company’s stock valued at $6,682,000 after acquiring an additional 208,236 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Franklin Limited Duration Income Trust by 6.2% during the second quarter. Envestnet Asset Management Inc. now owns 77,355 shares of the company’s stock valued at $497,000 after purchasing an additional 4,533 shares during the last quarter. Kovack Advisors Inc. purchased a new stake in Franklin Limited Duration Income Trust during the third quarter valued at about $67,000. Finally, Oppenheimer & Co. Inc. boosted its position in Franklin Limited Duration Income Trust by 12.2% during the third quarter. Oppenheimer & Co. Inc. now owns 33,502 shares of the company’s stock worth $213,000 after purchasing an additional 3,635 shares during the period.

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.