Franklin Universal Trust (NYSE:FT) Short Interest Update

Key Points

• Short interest fell sharply: Franklin Universal Trust’s short interest declined 42.5% to 15,143 shares as of August 14, representing approximately 0.1% of shares outstanding and a short-interest ratio of 0.3 days.
• Shares traded near their annual low: FT closed at $7.74, compared with a 52-week range of $7.69 to $8.35. Its 50-day and 200-day moving averages were $7.96 and $8.06, respectively.
• Monthly dividend announced: The trust declared a $0.0425-per-share dividend payable September 30 to shareholders of record on September 23, implying an annualized yield of about 6.6%.

Franklin Universal Trust (NYSE:FT - Get Free Report) saw a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 15,143 shares, a decline of 42.5% from the July 30th total of 26,320 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 44,134 shares, the short-interest ratio is presently 0.3 days.

Franklin Universal Trust Price Performance

FT stock traded down $0.01 on Friday, reaching $7.74. The company had a trading volume of 114,167 shares, compared to its average volume of 57,098. Franklin Universal Trust has a 1 year low of $7.69 and a 1 year high of $8.35. The company's fifty day moving average is $7.96 and its 200 day moving average is $8.06.

Franklin Universal Trust Announces Dividend

The company 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. This represents a c) dividend on an annualized basis and a yield of 6.6%. The ex-dividend date is Wednesday, September 23rd.

Institutional Trading of Franklin Universal Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Independent Financial Group LLC acquired a new position in Franklin Universal Trust during the first quarter worth approximately $99,000. Invesco Ltd. increased its position in shares of Franklin Universal Trust by 7.6% in the fourth quarter. Invesco Ltd. now owns 24,001 shares of the financial services provider's stock worth $192,000 after acquiring an additional 1,686 shares in the last quarter. Evolve Private Wealth LLC acquired a new stake in Franklin Universal Trust in the 4th quarter valued at $899,000. Cetera Investment Advisers raised its holdings 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 buying an additional 10,297 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Franklin Universal Trust by 3.0% during the fourth quarter. Wells Fargo & Company MN now owns 109,700 shares of the financial services provider's stock valued at $878,000 after acquiring an additional 3,218 shares in the last quarter.

About Franklin Universal Trust

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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