Sit Investment Associates, Inc. recently announced the acquisition of new stake in Franklin Limited Duration Income Trust (NYSE:FTF). The institutional investor has increased its shareholding in the Financial company by 4.96% to 3.88 million shares with purchase of 0.18 million shares. This fresh investment now brings its stake to 12.88% valued currently at $24.11 million. In addition, Cetera Investment Advisers LLC raised its holdings by 3983.0 to 1.11 million shares. And Securities America Advisors, Inc. has lifted its position by 1.64% or 8821.0 shares – to 0.55 million shares.
With over 0.17 million Franklin Limited Duration Income Trust (FTF) shares trading Monday and a closing price of $6.49 on the day, the dollar volume was approximately $1.08 million. The shares have shown a negative half year performance of -3.64% and its price on 01/23/23 gained nearly 0.08%. Currently, there are 40.41M common shares owned by the public and among those 40.41M shares have been available to trade.
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Insiders at the company have transacted a total of 0 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 0 of these insider trades were purchases, accounting for 0 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Franklin Limited Duration Income Trust are Invesco CEF Income Composite ETF, AQR Diversified Arbitrage Fund, and Guggenheim Multi Hedge Strategies. Invesco CEF Income Composite ETF owns 0.62 million shares of the company’s stock, all valued at over $3.84 million. AQR Diversified Arbitrage Fund bought 5963.0 shares to see its total holdings expand to 93932.0 shares valued at over $0.58 million and representing 0.31% of the shares outstanding. Guggenheim Multi Hedge Strategies sold 5570.0 shares to bring its total holdings to over 7795.0 shares at a value of $48407.0. Guggenheim Multi Hedge Strategies now owns shares totaling to 0.03% of the shares outstanding.
However, the script later moved the day high at 6.50, up 0.08%. The company’s stock has a 5-day price change of -0.23% and 8.63% over the past three months. FTF shares are trading 4.43% year to date (YTD), with the 12-month market performance down to -20.38% lower. It has a 12-month low price of $5.93 and touched a high of $8.29 over the same period. FTF has an average intraday trading volume of 148.41K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.84%, 2.33%, and -2.21% respectively.
Institutional ownership of Franklin Limited Duration Income Trust (NYSE: FTF) shares accounts for 40.56% of the company’s 40.41M shares outstanding. Mutual fund holders own 40.65%, while other institutional holders and individual stakeholders account for 6.73% and 2.40% respectively.
It has a market capitalization of $262.03M. The stock’s trailing 12-month PE ratio is 14.41, while the earnings-per-share (ttm) stands at $0.45. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.82% over the week and 0.98% over the month.
