Short Interest in Franklin Limited Duration Income Trust (NYSEAMERICAN:FTF) Rises By 59.8%
by Kim Johansen · The Markets DailyFranklin Limited Duration Income Trust (NYSEAMERICAN:FTF – Get Free Report) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 89,530 shares, a growth of 59.8% from the December 31st total of 56,035 shares. Based on an average daily trading volume, of 197,360 shares, the short-interest ratio is currently 0.5 days. Based on an average daily trading volume, of 197,360 shares, the short-interest ratio is currently 0.5 days.
Franklin Limited Duration Income Trust Stock Down 0.2%
FTF stock traded down $0.02 during trading on Monday, reaching $6.18. 62,870 shares of the stock were exchanged, compared to its average volume of 245,063. Franklin Limited Duration Income Trust has a twelve month low of $5.57 and a twelve month high of $6.71. The stock has a 50 day simple moving average of $6.14 and a 200-day simple moving average of $6.26.
Franklin Limited Duration Income Trust Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be given a dividend of $0.0615 per share. The ex-dividend date is Tuesday, March 24th. This represents a c) dividend on an annualized basis and a dividend yield of 12.0%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of FTF. Eastern Bank acquired a new stake in Franklin Limited Duration Income Trust during the third quarter worth $32,000. Wolverine Asset Management LLC bought a new position in shares of Franklin Limited Duration Income Trust during the 2nd quarter worth about $56,000. Azzad Asset Management Inc. ADV acquired a new stake in shares of Franklin Limited Duration Income Trust during the 3rd quarter valued at about $67,000. Kovack Advisors Inc. acquired a new stake in shares of Franklin Limited Duration Income Trust during the 3rd quarter valued at about $67,000. Finally, Procyon Advisors LLC bought a new stake in Franklin Limited Duration Income Trust in the fourth quarter valued at about $67,000.
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.