Franklin Universal Trust (NYSE:FT) Short Interest Update

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FT. Raymond James Financial Inc. boosted its stake in shares of Franklin Universal Trust by 2.3% in the second quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider’s stock valued at $486,000 after buying an additional 1,455 shares during the period. Invesco Ltd. increased its stake in Franklin Universal Trust by 7.6% during the 4th quarter. Invesco Ltd. now owns 24,001 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 1,686 shares during the period. PNC Financial Services Group Inc. raised its holdings in 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 acquiring an additional 1,972 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Franklin Universal Trust by 3.0% in the 4th quarter. Wells Fargo & Company MN now owns 109,700 shares of the financial services provider’s stock valued at $878,000 after acquiring an additional 3,218 shares in the last quarter. Finally, Harbour Investments Inc. lifted its position in shares of Franklin Universal Trust by 15.1% during the 4th quarter. Harbour Investments Inc. now owns 51,496 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 6,750 shares during the period.

Franklin Universal Trust Trading Up 0.2%

Shares of FT stock traded up $0.01 on Friday, hitting $7.88. The company’s stock had a trading volume of 31,661 shares, compared to its average volume of 37,820. The stock’s 50 day moving average is $7.99 and its 200-day moving average is $8.08. Franklin Universal Trust has a fifty-two week low of $7.79 and a fifty-two week high of $8.35.

Franklin Universal Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd will be issued a $0.0425 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a c) dividend on an annualized basis and a yield of 6.5%.

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.