Franklin Universal Trust (NYSE:FT) Sees Large Decline in Short Interest

Franklin Universal Trust (NYSE:FT) saw a significant drop in short interest during the month of January. As of January 30th, there was short interest totaling 8,998 shares, a drop of 63.5% from the January 15th total of 24,648 shares. Based on an average daily trading volume, of 68,141 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are sold short. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 68,141 shares, the short-interest ratio is presently 0.1 days.

Institutional Investors Weigh In On Franklin Universal Trust

A number of large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. purchased a new stake in shares of Franklin Universal Trust during the 1st quarter valued at about $117,000. Moloney Securities Asset Management LLC grew its position in Franklin Universal Trust by 1.8% during the second quarter. Moloney Securities Asset Management LLC now owns 683,165 shares of the financial services provider’s stock valued at $5,206,000 after buying an additional 12,132 shares during the period. Wolverine Asset Management LLC purchased a new stake in Franklin Universal Trust during the second quarter valued at approximately $35,000. Bridgewealth Advisory Group LLC purchased a new stake in Franklin Universal Trust during the second quarter valued at approximately $114,000. Finally, Shaker Financial Services LLC raised its position in Franklin Universal Trust by 106.6% in the second quarter. Shaker Financial Services LLC now owns 70,883 shares of the financial services provider’s stock worth $540,000 after acquiring an additional 36,570 shares during the period.

Franklin Universal Trust Stock Performance

NYSE:FT remained flat at $8.26 during mid-day trading on Friday. The company’s stock had a trading volume of 105,332 shares, compared to its average volume of 65,715. The firm’s 50-day simple moving average is $8.04 and its two-hundred day simple moving average is $8.00. Franklin Universal Trust has a fifty-two week low of $6.71 and a fifty-two week high of $8.35.

Franklin Universal Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be given a dividend of $0.0425 per share. The ex-dividend date is Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 6.2%.

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.