Franklin Universal Trust (NYSE:FT) Sees Significant Decrease in Short Interest

Key Points

• Short interest fell 56.9% to 6,527 shares as of August 31, representing 0.0% of outstanding shares and a short-interest ratio of 0.1 days.
• Several institutional investors increased or initiated positions in Franklin Universal Trust, including Northwestern Mutual Wealth Management, Advisors Asset Management, and Commonwealth Equity Services.
• The trust recently announced a $0.0425 monthly dividend, implying a 6.8% annualized yield. Shares opened at $7.54, near the 52-week low of $7.51.

Franklin Universal Trust (NYSE:FT - Get Free Report) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 6,527 shares, a decrease of 56.9% from the August 15th total of 15,143 shares. Currently, 0.0% of the company's stock are sold short. Based on an average daily volume of 76,918 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Franklin Universal Trust by 58,962.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 295,314 shares of the financial services provider's stock worth $2,363,000 after purchasing an additional 294,814 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Franklin Universal Trust by 60.5% during the fourth quarter. Advisors Asset Management Inc. now owns 689,053 shares of the financial services provider's stock valued at $5,512,000 after purchasing an additional 259,603 shares during the period. Evolve Private Wealth LLC acquired a new position in Franklin Universal Trust during the fourth quarter valued at $899,000. Commonwealth Equity Services LLC boosted its holdings in Franklin Universal Trust by 43.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 242,061 shares of the financial services provider's stock valued at $1,936,000 after purchasing an additional 73,030 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in Franklin Universal Trust in the third quarter valued at $343,000.

Franklin Universal Trust Price Performance

Franklin Universal Trust stock opened at $7.54 on Friday. Franklin Universal Trust has a 1-year low of $7.51 and a 1-year high of $8.35. The business has a fifty day moving average price of $7.88 and a 200-day moving average price of $8.02.

Franklin Universal Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd will be issued a dividend of $0.0425 per share. The ex-dividend date is Wednesday, September 23rd. This represents a c) annualized dividend and a dividend yield of 6.8%.

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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