Franklin Universal Trust (NYSE:FT) Short Interest Down 38.2% in May

Franklin Universal Trust (NYSE:FT) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 13,670 shares, a drop of 38.2% from the May 14th total of 22,123 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 43,635 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Franklin Universal Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FT. Advisors Asset Management Inc. increased its stake in shares of Franklin Universal Trust by 60.5% in the 4th quarter. Advisors Asset Management Inc. now owns 689,053 shares of the financial services provider’s stock valued at $5,512,000 after acquiring an additional 259,603 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Franklin Universal Trust by 58,962.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 295,314 shares of the financial services provider’s stock valued at $2,363,000 after purchasing an additional 294,814 shares during the period. Janney Montgomery Scott LLC increased its stake in Franklin Universal Trust by 10.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 255,823 shares of the financial services provider’s stock valued at $2,047,000 after purchasing an additional 23,630 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Franklin Universal Trust by 43.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 242,061 shares of the financial services provider’s stock worth $1,936,000 after purchasing an additional 73,030 shares during the period. Finally, Uncommon Cents Investing LLC boosted its position in shares of Franklin Universal Trust by 1.5% during the fourth quarter. Uncommon Cents Investing LLC now owns 185,420 shares of the financial services provider’s stock worth $1,483,000 after purchasing an additional 2,758 shares in the last quarter.

Franklin Universal Trust Price Performance

Shares of FT stock traded up $0.04 during trading hours on Tuesday, hitting $8.07. 60,960 shares of the company’s stock were exchanged, compared to its average volume of 36,873. The stock’s 50-day moving average is $8.09 and its 200-day moving average is $8.09. Franklin Universal Trust has a 52 week low of $7.43 and a 52 week high of $8.35.

Franklin Universal Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be given a dividend of $0.0425 per share. The ex-dividend date is Tuesday, June 23rd. This represents a c) annualized dividend and a dividend yield of 6.3%.

Franklin Universal Trust Company Profile

Franklin Universal Trust (NYSE: FT) is a closed-end management investment company organized under Maryland law and managed by Franklin Templeton. The trust seeks to provide a high level of current income with a secondary objective of capital appreciation. It issues common shares that trade on the New York Stock Exchange, offering investors access to a diversified portfolio of income-oriented credit instruments.

The fund’s core strategy focuses on senior secured floating-rate bank loans, which typically adjust their interest rates in line with market benchmarks.