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

Franklin Universal Trust (NYSE:FT) saw a significant increase in short interest in July. As of July 31st, there was short interest totaling 26,320 shares, an increase of 138.3% from the July 15th total of 11,044 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average trading volume of 30,999 shares, the days-to-cover ratio is currently 0.8 days.

Franklin Universal Trust Trading Up 0.2%

NYSE:FT traded up $0.01 during trading hours on Friday, reaching $7.88. The company had a trading volume of 31,661 shares, compared to its average volume of 43,503. Franklin Universal Trust has a 1-year low of $7.79 and a 1-year high of $8.35. The business’s 50 day moving average price is $7.99 and its 200-day moving average price is $8.08.

Franklin Universal Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd will be issued a dividend of $0.0425 per share. This represents a c) annualized dividend and a dividend yield of 6.5%. The ex-dividend date of this dividend is Wednesday, September 23rd.

Institutional Trading of Franklin Universal Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its holdings in Franklin Universal Trust by 61.6% in the third quarter. PNC Financial Services Group Inc. now owns 5,174 shares of the financial services provider’s stock valued at $42,000 after buying an additional 1,972 shares in the last quarter. Independent Financial Group LLC purchased a new stake in shares of Franklin Universal Trust during the 1st quarter worth about $99,000. Goldman Sachs Group Inc. purchased a new stake in shares of Franklin Universal Trust during the 1st quarter worth about $117,000. Ameriprise Financial Inc. purchased a new stake in shares of Franklin Universal Trust during the 3rd quarter worth about $133,000. Finally, Thoroughbred Financial Services LLC acquired a new stake in shares of Franklin Universal Trust during the 4th quarter valued at about $176,000.

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.