Franklin Universal Trust (NYSE:FT) Short Interest Update

Franklin Universal Trust (NYSE:FT) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 11,044 shares, an increase of 159.6% from the June 30th total of 4,255 shares. Based on an average daily trading volume, of 31,634 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.0% of the shares of the stock are short sold.

Institutional Investors Weigh In On Franklin Universal Trust

Several hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its stake in shares of Franklin Universal Trust by 58,962.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 295,314 shares of the financial services provider’s stock worth $2,363,000 after purchasing an additional 294,814 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Franklin Universal Trust by 60.5% during the fourth quarter. Advisors Asset Management Inc. now owns 689,053 shares of the financial services provider’s stock valued at $5,512,000 after buying an additional 259,603 shares in the last quarter. Evolve Private Wealth LLC purchased a new stake in shares of Franklin Universal Trust in the fourth quarter worth about $899,000. Commonwealth Equity Services LLC grew its holdings in Franklin Universal Trust by 43.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 242,061 shares of the financial services provider’s stock valued at $1,936,000 after purchasing an additional 73,030 shares in the last quarter. Finally, Envestnet Asset Management Inc. acquired a new stake in Franklin Universal Trust during the 3rd quarter valued at approximately $343,000.

Franklin Universal Trust Price Performance

Shares of Franklin Universal Trust stock traded down $0.03 on Monday, reaching $7.98. The company had a trading volume of 38,685 shares, compared to its average volume of 30,939. Franklin Universal Trust has a 1 year low of $7.73 and a 1 year high of $8.35. The firm’s 50-day moving average price is $8.03 and its two-hundred day moving average price is $8.10.

Franklin Universal Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd will be given a dividend of $0.0425 per share. This represents a c) annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Wednesday, September 23rd.

About Franklin Universal Trust

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.