Franklin Universal Trust (NYSE:FT) Shares Shorted: Short Interest Up 1,114.6% in October

Franklin Universal Trust (NYSE:FT) was the target of a significant growth in short interest in the month of October. As of October 30th, there was short interest totaling 26,964 shares, a growth of 1,114.6% from the October 15th total of 2,220 shares. Based on an average trading volume of 56,710 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.1% of the shares of the stock are short sold.

Institutional Investors Weigh In On Franklin Universal Trust

An institutional investor recently raised its stake in Franklin Universal Trust stock. Shaker Financial Services LLC increased its stake in Franklin Universal Trust (NYSE:FT) by 142.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,281 shares of the financial services provider’s stock after purchasing an additional 35,411 shares during the quarter. Shaker Financial Services LLC owned approximately 0.24% of Franklin Universal Trust worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Franklin Universal Trust Price Performance

NYSE:FT traded down $0.04 during midday trading on Tuesday, hitting $7.46. 34,831 shares of the stock were exchanged, compared to its average volume of 56,411. Franklin Universal Trust has a one year low of $6.95 and a one year high of $8.35. The business has a 50-day moving average price of $7.30 and a two-hundred day moving average price of $7.87.

Franklin Universal Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 23rd will be paid a $0.0425 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Wednesday, December 23rd.

Franklin Universal Trust Company Profile

Franklin Universal Trust (NYSE: FT) is a diversified closed-end investment company managed by Franklin Advisers, Inc., an affiliate of Franklin Templeton. The fund seeks to provide high current income and long-term capital appreciation by investing in a portfolio of debt and equity securities. The trust invests across a range of issuers and industries, including utility companies and other income-oriented businesses. Its portfolio may include corporate bonds, preferred securities, common stocks and other investments, allowing the fund to pursue income while retaining the potential for capital growth.