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

Franklin Limited Duration Income Trust (NYSEAMERICAN:FTF) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.88 and traded as low as $5.75. Franklin Limited Duration Income Trust shares last traded at $5.77, with a volume of 321,647 shares changing hands.

Franklin Limited Duration Income Trust Trading Up 0.2%

The stock’s 50-day simple moving average is $5.88 and its 200 day simple moving average is $6.02.

Franklin Limited Duration Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.0615 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a yield of 12.7%.

Institutional Trading of Franklin Limited Duration Income Trust

A number of institutional investors have recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its position in Franklin Limited Duration Income Trust by 2.6% during the third quarter. Advisors Asset Management Inc. now owns 1,068,252 shares of the company’s stock valued at $6,805,000 after acquiring an additional 27,423 shares during the last quarter. Invesco Ltd. boosted its position in shares of Franklin Limited Duration Income Trust by 3.8% during the 2nd quarter. Invesco Ltd. now owns 821,918 shares of the company’s stock worth $5,277,000 after purchasing an additional 30,220 shares in the last quarter. Absolute Investment Advisers LLC bought a new position in shares of Franklin Limited Duration Income Trust during the 4th quarter worth about $3,023,000. Wolverine Asset Management LLC boosted its position in shares of Franklin Limited Duration Income Trust by 2,180.8% during the 4th quarter. Wolverine Asset Management LLC now owns 255,041 shares of the company’s stock worth $1,569,000 after purchasing an additional 243,859 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Franklin Limited Duration Income Trust by 2.6% during the 4th quarter. Osaic Holdings Inc. now owns 241,923 shares of the company’s stock worth $1,488,000 after purchasing an additional 6,101 shares in the last quarter.

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.