Short Interest in Franklin Universal Trust (NYSE:FT) Expands By 82.8%

Key Points

• Short interest in Franklin Universal Trust (NYSE:FT) increased by 82.8% in September, rising to a total of 23,400 shares from 12,800 shares at the end of August.
• Several institutional investors, including Goldman Sachs Group Inc. and Oppenheimer & Co. Inc., have recently acquired new stakes in Franklin Universal Trust, indicating growing interest from the financial sector.
• The company declared a monthly dividend of $0.0425, resulting in an annualized yield of 6.4%, with the dividend paid on September 30th.

Franklin Universal Trust (NYSE:FT - ) was the target of a large increase in short interest in September. As of September 15th, there was short interest totaling 23,400 shares, an increase of 82.8% from the August 31st total of 12,800 shares. Based on an average daily trading volume, of 46,400 shares, the short-interest ratio is presently 0.5 days. Based on an average daily trading volume, of 46,400 shares, the short-interest ratio is presently 0.5 days.

Institutional Trading of Franklin Universal Trust

A number of hedge funds and other institutional investors have recently modified their holdings of FT. Wolverine Asset Management LLC acquired a new stake in shares of Franklin Universal Trust in the second quarter valued at about $35,000. MB Levis & Associates LLC acquired a new stake in shares of Franklin Universal Trust in the first quarter valued at about $77,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Franklin Universal Trust in the first quarter valued at about $81,000. Bridgewealth Advisory Group LLC acquired a new stake in shares of Franklin Universal Trust in the second quarter valued at about $114,000. Finally, Goldman Sachs Group Inc. acquired a new position in Franklin Universal Trust during the first quarter worth approximately $117,000.

Franklin Universal Trust Stock Performance

FT stock opened at $8.00 on Friday. The business's 50-day moving average price is $7.92 and its two-hundred day moving average price is $7.63. Franklin Universal Trust has a 1-year low of $6.71 and a 1-year high of $8.08.

Franklin Universal Trust Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Thursday, September 18th were issued a $0.0425 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date was Thursday, September 18th.

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.

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