Short Interest in Franklin Universal Trust (NYSE:FT) Declines By 56.9%

Franklin Universal Trust (NYSE:FT) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 6,527 shares, a decline of 56.9% from the August 15th total of 15,143 shares. Based on an average trading volume of 76,918 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Franklin Universal Trust Trading Down 0.7%

Franklin Universal Trust stock traded down $0.05 during mid-day trading on Tuesday, hitting $7.41. The company had a trading volume of 68,721 shares, compared to its average volume of 64,846. Franklin Universal Trust has a 12-month low of $7.36 and a 12-month high of $8.35. The company’s fifty day moving average is $7.85 and its 200-day moving average is $8.01.

Franklin Universal Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be issued a dividend of $0.0425 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a c) dividend on an annualized basis and a yield of 6.9%.

Institutional Trading of Franklin Universal Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Franklin Universal Trust by 58,962.8% in 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 acquiring an additional 294,814 shares during the period. Harbour Investments Inc. grew 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. Thoroughbred Financial Services LLC acquired a new stake in shares of Franklin Universal Trust during the 4th quarter valued at about $176,000. Finally, Independent Financial Group LLC acquired a new stake in shares of Franklin Universal Trust during the 1st quarter valued at about $99,000.

About Franklin Universal Trust

Franklin Universal Trust is a diversified closed-end management investment company listed on the New York Stock Exchange under the symbol FT. The fund seeks to provide investors with a high level of current income while also pursuing capital appreciation.

The trust invests in a combination of debt and equity securities. Its portfolio may include corporate bonds and other fixed-income securities, common and preferred stocks, and convertible securities. Through this flexible approach, the fund can obtain income from interest and dividends while maintaining exposure to potential long-term growth.

Franklin Advisers, Inc, part of Franklin Templeton, serves as the fund’s investment adviser.