Franklin Limited Duration Income Trust of Beneficial Interest (NYSE:FTF) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 183,368 shares, a decline of 40.1% from the February 28th total of 306,059 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 157,273 shares, the days-to-cover ratio is currently 1.2 days.
Shares of Franklin Limited Duration Income Trust of Beneficial Interest (NYSE:FTF) traded down 0.33% during midday trading on Friday, hitting $11.99. 131,577 shares of the stock were exchanged. The firm’s 50-day moving average is $11.99 and its 200 day moving average is $12.03. The firm has a market cap of $321.27 million and a PE ratio of 12.00. Franklin Limited Duration Income Trust of Beneficial Interest has a 52-week low of $11.31 and a 52-week high of $12.45.
The company also recently announced a monthly dividend, which will be paid on Monday, May 15th. Investors of record on Friday, April 28th will be paid a dividend of $0.1079 per share. This represents a $1.29 annualized dividend and a yield of 10.76%. The ex-dividend date of this dividend is Wednesday, April 26th.
In other news, major shareholder Saba Capital Management, L.P. sold 14,757 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $11.97, for a total value of $176,641.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 1,993,013 shares of company stock valued at $24,780,971.
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