Franklin Limited Duration Income Trust (NYSEAMERICAN:FTF) Shares Cross Below Fifty Day Moving Average – Here’s What Happened

Franklin Limited Duration Income Trust (NYSEAMERICAN:FTF) shares crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $6.15 and traded as low as $5.90. Franklin Limited Duration Income Trust shares last traded at $5.94, with a volume of 324,959 shares trading hands.

Franklin Limited Duration Income Trust Price Performance

The business has a 50 day simple moving average of $6.15 and a 200 day simple moving average of $6.20.

Franklin Limited Duration Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be paid a $0.0615 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a c) annualized dividend and a dividend yield of 12.4%.

Hedge Funds Weigh In On Franklin Limited Duration Income Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. grew its position in Franklin Limited Duration Income Trust by 25.0% in the second quarter. Advisors Asset Management Inc. now owns 1,040,829 shares of the company’s stock worth $6,682,000 after acquiring an additional 208,236 shares in the last quarter. Kingsview Wealth Management LLC bought a new position in shares of Franklin Limited Duration Income Trust during the 2nd quarter valued at $173,000. Powell Investment Advisors LLC lifted its stake in shares of Franklin Limited Duration Income Trust by 6.1% in the 3rd quarter. Powell Investment Advisors LLC now owns 59,383 shares of the company’s stock valued at $378,000 after purchasing an additional 3,401 shares during the last quarter. Integrity Advisory Solutions LLC acquired a new stake in shares of Franklin Limited Duration Income Trust in the 3rd quarter valued at $100,000. Finally, Creative Financial Designs Inc. ADV boosted its holdings in Franklin Limited Duration Income Trust by 144.7% in the third quarter. Creative Financial Designs Inc. ADV now owns 138,003 shares of the company’s stock worth $879,000 after purchasing an additional 81,595 shares in the last quarter.

About Franklin Limited Duration Income Trust

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.