Franklin Universal Trust (NYSE:FT) Short Interest Down 20.0% in February

Franklin Universal Trust (NYSE:FT) was the target of a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 7,200 shares, a decline of 20.0% from the January 29th total of 8,998 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily volume of 73,822 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 73,822 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Franklin Universal Trust Price Performance

NYSE FT opened at $8.28 on Thursday. Franklin Universal Trust has a twelve month low of $6.71 and a twelve month high of $8.35. The company’s 50-day simple moving average is $8.13 and its 200 day simple moving average is $8.03.

Franklin Universal Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be issued a $0.0425 dividend. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%.

Institutional Trading of Franklin Universal Trust

Several hedge funds have recently modified their holdings of the company. Noble Wealth Management PBC acquired a new stake in shares of Franklin Universal Trust in the fourth quarter valued at $32,000. Wolverine Asset Management LLC bought a new stake in shares of Franklin Universal Trust in the 2nd quarter valued at about $35,000. Spire Wealth Management bought a new stake in Franklin Universal Trust in the fourth quarter valued at approximately $40,000. PNC Financial Services Group Inc. raised its stake in Franklin Universal Trust by 61.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,174 shares of the financial services provider’s stock worth $42,000 after buying an additional 1,972 shares during the period. Finally, PMG Family Office LLC acquired a new stake in shares of Franklin Universal Trust during the third quarter worth about $93,000.

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.