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

Franklin Universal Trust (NYSE:FT) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 11,044 shares, a growth of 159.6% from the June 30th total of 4,255 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 31,634 shares, the days-to-cover ratio is presently 0.3 days.

Franklin Universal Trust Stock Performance

Shares of FT stock traded down $0.04 during trading hours on Wednesday, reaching $7.95. 8,455 shares of the company’s stock were exchanged, compared to its average volume of 43,495. Franklin Universal Trust has a fifty-two week low of $7.73 and a fifty-two week high of $8.35. The stock’s 50 day moving average is $8.03 and its 200-day moving average is $8.10.

Franklin Universal Trust Announces Dividend

The company also recently declared 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. The ex-dividend date is Wednesday, September 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%.

Hedge Funds Weigh In On Franklin Universal Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. lifted its stake in Franklin Universal Trust by 60.5% during the fourth quarter. Advisors Asset Management Inc. now owns 689,053 shares of the financial services provider’s stock worth $5,512,000 after purchasing an additional 259,603 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Franklin Universal Trust by 58,962.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 295,314 shares of the financial services provider’s stock worth $2,363,000 after buying an additional 294,814 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Franklin Universal Trust by 10.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 255,823 shares of the financial services provider’s stock worth $2,047,000 after buying an additional 23,630 shares during the last quarter. Commonwealth Equity Services LLC increased its position in Franklin Universal Trust by 43.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 242,061 shares of the financial services provider’s stock valued at $1,936,000 after acquiring an additional 73,030 shares during the period. Finally, Uncommon Cents Investing LLC raised its stake in Franklin Universal Trust by 1.5% during the 4th quarter. Uncommon Cents Investing LLC now owns 185,420 shares of the financial services provider’s stock valued at $1,483,000 after acquiring an additional 2,758 shares during the last quarter.

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.