Short Interest in Franklin Universal Trust (NYSE:FT) Decreases By 42.5%

Franklin Universal Trust (NYSE:FT) was the recipient of a significant decrease in short interest in August. As of August 14th, there was short interest totaling 15,143 shares, a decrease of 42.5% from the July 30th total of 26,320 shares. Based on an average daily trading volume, of 44,134 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.1% of the company’s stock are sold short.

Franklin Universal Trust Stock Performance

Franklin Universal Trust stock traded down $0.01 during mid-day trading on Friday, reaching $7.74. The company’s stock had a trading volume of 114,167 shares, compared to its average volume of 57,098. The business has a 50 day moving average price of $7.96 and a 200-day moving average price of $8.06. Franklin Universal Trust has a twelve month low of $7.69 and a twelve month high of $8.35.

Franklin Universal Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd will be issued 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 6.6%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its stake in Franklin Universal Trust by 58,962.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 295,314 shares of the financial services provider’s stock valued at $2,363,000 after acquiring an additional 294,814 shares in the last quarter. Evolve Private Wealth LLC bought a new position in shares of Franklin Universal Trust during the 4th quarter valued at about $899,000. Cetera Investment Advisers boosted its position in shares of 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 purchasing an additional 10,297 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Franklin Universal Trust by 3.0% in the 4th quarter. Wells Fargo & Company MN now owns 109,700 shares of the financial services provider’s stock worth $878,000 after purchasing an additional 3,218 shares during the last quarter. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Franklin Universal Trust in the 3rd quarter worth approximately $197,000.

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.