Franklin Universal Trust (NYSE:FT) Short Interest Up 117.2% in March

Franklin Universal Trust (NYSE:FT) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 17,023 shares, a growth of 117.2% from the February 26th total of 7,839 shares. Based on an average trading volume of 42,364 shares, the short-interest ratio is currently 0.4 days. Approximately 0.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FT. Advisors Asset Management Inc. grew its position in shares of Franklin Universal Trust by 102.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 429,450 shares of the financial services provider’s stock valued at $3,453,000 after buying an additional 217,780 shares during the last quarter. Moloney Securities Asset Management LLC lifted its position in Franklin Universal Trust by 1.2% in the third quarter. Moloney Securities Asset Management LLC now owns 691,160 shares of the financial services provider’s stock valued at $5,557,000 after acquiring an additional 7,995 shares during the last quarter. CoreCap Advisors LLC lifted its position in Franklin Universal Trust by 535.6% in the third quarter. CoreCap Advisors LLC now owns 27,109 shares of the financial services provider’s stock valued at $218,000 after acquiring an additional 22,844 shares during the last quarter. Uncommon Cents Investing LLC boosted its stake in Franklin Universal Trust by 0.9% in the third quarter. Uncommon Cents Investing LLC now owns 182,662 shares of the financial services provider’s stock valued at $1,469,000 after acquiring an additional 1,647 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in Franklin Universal Trust in the first quarter valued at $117,000.

Franklin Universal Trust Price Performance

FT stock traded down $0.10 during trading on Thursday, hitting $7.91. 34,651 shares of the company’s stock were exchanged, compared to its average volume of 52,720. The business has a 50-day moving average price of $8.16 and a two-hundred day moving average price of $8.05. Franklin Universal Trust has a 52-week low of $6.71 and a 52-week high of $8.35.

Franklin Universal Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th 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 is Tuesday, March 24th.

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.