Franklin Limited Duration Income Trust (NYSEAMERICAN:FTF) Trading 6.3% Higher After Dividend Announcement

Shares of Franklin Limited Duration Income Trust (NYSEAMERICAN:FTF) traded up 6.3% on Wednesday following a dividend announcement from the company. The company traded as high as $7.45 and last traded at $7.38, 111,694 shares were traded 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. Investors of record on Tuesday, March 31st will be issued a dividend of $0.0833 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $1.00 dividend on an annualized basis and a yield of 13.03%.

A number of institutional investors have recently modified their holdings of FTF. FNY Investment Advisers LLC bought a new stake in Franklin Limited Duration Income Trust during the fourth quarter worth $60,000. Usca Ria LLC bought a new stake in Franklin Limited Duration Income Trust during the fourth quarter worth $113,000. Stifel Financial Corp bought a new stake in Franklin Limited Duration Income Trust during the fourth quarter worth $138,000. Envestnet Asset Management Inc. bought a new stake in Franklin Limited Duration Income Trust during the fourth quarter worth $174,000. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in Franklin Limited Duration Income Trust by 38.4% during the fourth 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 period.

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.

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