Franklin Universal Trust (NYSE:FT) Short Interest Up 138.3% in July

Franklin Universal Trust (NYSE:FT) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 26,320 shares, a growth of 138.3% from the July 15th total of 11,044 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average trading volume of 30,999 shares, the short-interest ratio is presently 0.8 days.

Franklin Universal Trust Price Performance

Shares of FT traded up $0.01 during mid-day trading on Friday, hitting $7.88. 31,661 shares of the company’s stock were exchanged, compared to its average volume of 37,820. Franklin Universal Trust has a 52 week low of $7.79 and a 52 week high of $8.35. The company has a 50-day simple moving average of $7.99 and a 200 day simple moving average of $8.08.

Franklin Universal Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be given a $0.0425 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a c) dividend on an annualized basis and a yield of 6.5%.

Institutional Investors Weigh In On Franklin Universal Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its holdings in shares of Franklin Universal Trust by 61.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,174 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 1,972 shares in the last quarter. Independent Financial Group LLC acquired a new stake in shares of Franklin Universal Trust in the first quarter valued at about $99,000. Goldman Sachs Group Inc. bought a new stake in Franklin Universal Trust during the first quarter worth about $117,000. Ameriprise Financial Inc. acquired a new position in Franklin Universal Trust during the third quarter valued at approximately $133,000. Finally, Thoroughbred Financial Services LLC acquired a new position in Franklin Universal Trust during the fourth quarter valued at approximately $176,000.

Franklin Universal Trust Company Profile

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.