Franklin Universal Trust (NYSE:FT) Short Interest Update

Franklin Universal Trust (NYSE:FT) was the target of a large increase in short interest in 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 short-interest ratio is currently 0.4 days. Approximately 0.1% of the shares of the stock are short sold.

Franklin Universal Trust Price Performance

NYSE:FT opened at $7.84 on Friday. Franklin Universal Trust has a 12-month low of $6.71 and a 12-month high of $8.35. The firm has a 50-day moving average price of $8.15 and a 200 day moving average price of $8.05.

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 6.5%.

Institutional Trading of Franklin Universal Trust

Several institutional investors have recently bought and sold shares of the stock. Noble Wealth Management PBC bought a new stake in Franklin Universal Trust in the fourth quarter valued at $32,000. Spire Wealth Management bought a new position in shares of Franklin Universal Trust during the fourth quarter valued at $40,000. PNC Financial Services Group Inc. boosted its stake 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 purchasing an additional 1,972 shares in the last quarter. PMG Family Office LLC acquired a new stake in shares of Franklin Universal Trust in the 3rd quarter valued at $93,000. Finally, Goldman Sachs Group Inc. bought a new stake in shares of Franklin Universal Trust in the 1st quarter worth about $117,000.

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.