Franklin Limited Duration Income Trust (NYSEAMERICAN:FTF) Shares Up 6.3% Following Dividend Announcement

Share on StockTwits

Franklin Limited Duration Income Trust (NYSEAMERICAN:FTF) shot up 6.3% during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $7.45 and last traded at $7.38, 111,694 shares changed hands during trading. A decline of 26% from the average session volume of 150,310 shares. The stock had previously closed at $6.94.

The newly announced dividend which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.0833 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 13.54%. The ex-dividend date is Monday, March 30th.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Franklin Limited Duration Income Trust by 38.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 38,804 shares of the company’s stock worth $372,000 after acquiring an additional 10,775 shares during the last quarter. NEXT Financial Group Inc purchased a new position in Franklin Limited Duration Income Trust in the 4th quarter valued at $736,000. Koshinski Asset Management Inc. purchased a new position in Franklin Limited Duration Income Trust in the 4th quarter valued at $2,227,000. Usca Ria LLC purchased a new position in Franklin Limited Duration Income Trust in the 4th quarter valued at $113,000. Finally, SeaCrest Wealth Management LLC grew its position in Franklin Limited Duration Income Trust by 14.1% in the 4th quarter. SeaCrest Wealth Management LLC now owns 55,125 shares of the company’s stock valued at $529,000 after buying an additional 6,808 shares during the last quarter.

Franklin Limited Duration Income Trust Company Profile (NYSEAMERICAN:FTF)

Franklin Limited Duration Income Trust is a closed-ended fixed income mutual fund launched by Franklin Resources, Inc The fund is managed by Franklin Advisers, Inc It invests in the fixed income markets of the United States. The fund primarily invests in mortgage-backed securities, asset-backed securities, floating rate bank loans, and high yield corporate bonds.

Recommended Story: Does the Step Transaction Doctrine Affect a Backdoor Roth IRA?

Receive News & Ratings for Franklin Limited Duration Income Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Limited Duration Income Trust and related companies with MarketBeat.com's FREE daily email newsletter.