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

Franklin Universal Trust (NYSE:FT) saw a large 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 shares of the company are sold short. Based on an average daily volume of 31,634 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. raised its stake in Franklin Universal Trust by 2.3% in the 2nd quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider’s stock valued at $486,000 after acquiring an additional 1,455 shares during the period. 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 purchasing an additional 1,686 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Franklin Universal Trust by 61.6% in the third quarter. PNC Financial Services Group Inc. now owns 5,174 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 1,972 shares in the last quarter. Uncommon Cents Investing LLC raised its position in shares of Franklin Universal Trust by 1.5% in the fourth quarter. Uncommon Cents Investing LLC now owns 185,420 shares of the financial services provider’s stock valued at $1,483,000 after purchasing an additional 2,758 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Franklin Universal Trust by 3.0% in the fourth quarter. Wells Fargo & Company MN now owns 109,700 shares of the financial services provider’s stock valued at $878,000 after purchasing an additional 3,218 shares during the period.

Franklin Universal Trust Price Performance

NYSE FT traded up $0.01 on Tuesday, hitting $7.99. 41,319 shares of the stock traded hands, compared to its average volume of 43,784. The business’s fifty day moving average is $8.03 and its two-hundred day moving average is $8.10. Franklin Universal Trust has a 12 month low of $7.73 and a 12 month high of $8.35.

Franklin Universal Trust Dividend Announcement

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 given a dividend of $0.0425 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Wednesday, September 23rd.

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.