Franklin Universal Trust (NYSE:FT) Short Interest Update

Franklin Universal Trust (NYSE:FT) was the target of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 17,023 shares, an increase of 117.2% from the February 26th total of 7,839 shares. Based on an average trading volume of 42,364 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Trading of Franklin Universal Trust

A number of hedge funds have recently made changes to their positions in FT. Invesco Ltd. increased its stake in shares of Franklin Universal Trust by 7.6% in the fourth quarter. Invesco Ltd. now owns 24,001 shares of the financial services provider’s stock worth $192,000 after buying an additional 1,686 shares during the last quarter. Evolve Private Wealth LLC bought a new position in Franklin Universal Trust during the 4th quarter valued at $899,000. Cetera Investment Advisers boosted its stake in Franklin Universal Trust by 10.5% during the 4th quarter. Cetera Investment Advisers now owns 108,336 shares of the financial services provider’s stock valued at $867,000 after acquiring an additional 10,297 shares during the last quarter. Wells Fargo & Company MN grew its holdings in Franklin Universal Trust by 3.0% during the 4th quarter. Wells Fargo & Company MN now owns 109,700 shares of the financial services provider’s stock worth $878,000 after acquiring an additional 3,218 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Franklin Universal Trust by 60.5% in the 4th 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.

Franklin Universal Trust Price Performance

Shares of FT opened at $7.84 on Friday. Franklin Universal Trust has a one year low of $6.71 and a one year high of $8.35. The stock has a 50-day moving average price of $8.15 and a 200 day moving average price of $8.05.

Franklin Universal Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be given a $0.0425 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend is Tuesday, March 24th.

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.