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

Key Points

• Franklin Universal Trust experienced a significant 68.2% drop in short interest in August, with current short interest totaling 12,800 shares.
• Several institutional investors increased their holdings in Franklin Universal Trust during the second quarter, with Shaker Financial Services LLC boosting its stake by 106.6%.
• The company declared a monthly dividend of $0.0425 per share, representing an annualized yield of 6.4%, to be paid on September 30th.

Franklin Universal Trust (NYSE:FT - Get Free Report) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 12,800 shares, a decline of 68.2% from the August 15th total of 40,200 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average trading volume of 43,800 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 43,800 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

Franklin Universal Trust Price Performance

Franklin Universal Trust stock traded down $0.08 during trading hours on Wednesday, hitting $7.86. 103,507 shares of the stock were exchanged, compared to its average volume of 40,821. Franklin Universal Trust has a 12 month low of $6.71 and a 12 month high of $8.07. The business's 50-day moving average is $7.88 and its two-hundred day moving average is $7.59.

Franklin Universal Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Thursday, September 18th will be paid a dividend of $0.0425 per share. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Thursday, September 18th.

Institutional Trading of Franklin Universal Trust

Several large investors have recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC grew its stake in Franklin Universal Trust by 1.8% during the second quarter. Moloney Securities Asset Management LLC now owns 683,165 shares of the financial services provider's stock worth $5,206,000 after buying an additional 12,132 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Franklin Universal Trust by 20.9% during the first quarter. Advisors Asset Management Inc. now owns 214,496 shares of the financial services provider's stock worth $1,615,000 after buying an additional 37,138 shares during the last quarter. Uncommon Cents Investing LLC grew its stake in Franklin Universal Trust by 2.5% during the second quarter. Uncommon Cents Investing LLC now owns 181,015 shares of the financial services provider's stock worth $1,379,000 after buying an additional 4,390 shares during the last quarter. Shaker Financial Services LLC grew its stake in Franklin Universal Trust by 106.6% during the second quarter. Shaker Financial Services LLC now owns 70,883 shares of the financial services provider's stock worth $540,000 after buying an additional 36,570 shares during the last quarter. Finally, Raymond James Financial Inc. grew its stake in Franklin Universal Trust by 2.3% during the second quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider's stock worth $486,000 after buying an additional 1,455 shares during the last quarter.

About Franklin Universal Trust

Franklin Universal Trust is a closed-ended balanced mutual fund launched by Franklin Resources, Inc The fund is managed by Franklin Advisers, Inc It invests in the public equity and fixed income markets of the United States. The fund invests in companies operating in utility sector. It employs fundamental analysis to invest in a diversified portfolio of corporate bonds and dividend paying utility stocks.