Franklin Universal Trust (NYSE:FT) Short Interest Up 96.7% in December

Franklin Universal Trust (NYSE:FT) saw a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 41,420 shares, a growth of 96.7% from the November 30th total of 21,057 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 55,072 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 55,072 shares, the short-interest ratio is currently 0.8 days. Approximately 0.2% of the company’s stock are short sold.

Institutional Trading of Franklin Universal Trust

A number of hedge funds and other institutional investors have recently modified their holdings of FT. Raymond James Financial Inc. increased its stake in Franklin Universal Trust by 2.3% during the second quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 1,455 shares during the last quarter. Uncommon Cents Investing LLC boosted its holdings in shares of Franklin Universal Trust by 0.9% in the 3rd quarter. Uncommon Cents Investing LLC now owns 182,662 shares of the financial services provider’s stock valued at $1,469,000 after buying an additional 1,647 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Franklin Universal Trust by 61.6% in the 3rd 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 during the period. Clear Creek Financial Management LLC grew its position in shares of Franklin Universal Trust by 11.3% during the 2nd quarter. Clear Creek Financial Management LLC now owns 29,453 shares of the financial services provider’s stock valued at $224,000 after buying an additional 3,000 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Franklin Universal Trust during the second quarter worth about $35,000.

Franklin Universal Trust Price Performance

Shares of FT stock traded down $0.04 on Friday, hitting $8.01. The stock had a trading volume of 18,693 shares, compared to its average volume of 44,648. The stock’s 50 day moving average is $7.99 and its 200-day moving average is $7.89. Franklin Universal Trust has a 52-week low of $6.71 and a 52-week high of $8.20.

Franklin Universal Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.0425 dividend. This represents a c) dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend is Monday, December 15th.

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.