Franklin Universal Trust (NYSE:FT) Shares Shorted: Short Interest Up 100.6% in September

Franklin Universal Trust (NYSE:FT) saw a large growth in short interest during the month of September. As of September 15th, there was short interest totaling 13,092 shares, a growth of 100.6% from the August 31st total of 6,527 shares. Based on an average trading volume of 59,376 shares, the short-interest ratio is presently 0.2 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Harbour Investments Inc. lifted its stake in 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 in the last quarter. Independent Financial Group LLC bought a new stake in shares of Franklin Universal Trust in the 1st quarter worth $99,000. Finally, Thoroughbred Financial Services LLC bought a new stake in shares of Franklin Universal Trust in the 4th quarter worth $176,000.

Franklin Universal Trust Stock Up 1.3%

Shares of NYSE FT opened at $7.04 on Wednesday. Franklin Universal Trust has a fifty-two week low of $6.95 and a fifty-two week high of $8.35. The firm’s 50-day simple moving average is $7.68 and its 200 day simple moving average is $7.94.

Franklin Universal Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd will be issued a $0.0425 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Wednesday, September 23rd.

Franklin Universal Trust Company Profile

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.