Franklin Universal Trust (NYSE:FT) Short Interest Update

Key Points

• Short interest in Franklin Universal Trust fell sharply in June, dropping 75.3% to 4,255 shares as of June 30 from 17,247 shares on June 15. That leaves only about 0.0% of shares sold short, with a days-to-cover ratio of 0.1.
• The stock recently traded at $8.04, near its 50-day moving average of $8.03 and 200-day moving average of $8.10. It has ranged between a 12-month low of $7.57 and a high of $8.35.
• Franklin Universal Trust also paid a monthly dividend of $0.0425 per share on June 30, representing an annualized yield of 6.3%. The closed-end fund focuses on current income, primarily through senior secured floating-rate bank loans.

Franklin Universal Trust (NYSE:FT - Get Free Report) was the recipient of a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 4,255 shares, a decrease of 75.3% from the June 15th total of 17,247 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 35,960 shares, the days-to-cover ratio is currently 0.1 days.

Franklin Universal Trust Stock Performance

NYSE FT traded down $0.01 during trading on Friday, reaching $8.04. The company's stock had a trading volume of 21,372 shares, compared to its average volume of 29,258. The firm has a 50 day moving average price of $8.03 and a 200 day moving average price of $8.10. Franklin Universal Trust has a 12 month low of $7.57 and a 12 month high of $8.35.

Franklin Universal Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a dividend of $0.0425 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a c) annualized dividend and a yield of 6.3%.

Institutional Trading of Franklin Universal Trust

Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. acquired a new stake in shares of Franklin Universal Trust during the first quarter valued at about $117,000. Raymond James Financial Inc. raised its holdings in Franklin Universal Trust by 2.3% in the 2nd quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider's stock valued at $486,000 after buying an additional 1,455 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in Franklin Universal Trust during the 3rd quarter worth approximately $343,000. PNC Financial Services Group Inc. boosted its position in Franklin Universal Trust by 61.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,174 shares of the financial services provider's stock worth $42,000 after buying an additional 1,972 shares during the period. Finally, Ameriprise Financial Inc. bought a new stake in Franklin Universal Trust during the 3rd quarter worth approximately $133,000.

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.

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