Short Interest in Franklin Universal Trust (NYSE:FT) Rises By 68.9%

Key Points

• Short interest in Franklin Universal Trust (NYSE:FT) increased by 68.9% in August, totaling 40,200 shares as of August 15th, compared to 23,800 shares at the end of July.
• The stock recently traded at $7.93, reflecting a slight decrease of 0.1%, with a 12-month low of $6.71 and a high of $8.07.
• Franklin Universal Trust declared a monthly dividend of $0.0425 per share with a yield of 6.4%, paid to stockholders on record as of August 18th.

Franklin Universal Trust (NYSE:FT - ) saw a significant increase in short interest in the month of August. As of August 15th, there was short interest totaling 40,200 shares, anincreaseof68.9% from the July 31st total of 23,800 shares. Based on an average trading volume of 42,400 shares, the days-to-cover ratio is currently 0.9 days. Based on an average trading volume of 42,400 shares, the days-to-cover ratio is currently 0.9 days.

Franklin Universal Trust Stock Down 0.1%

Franklin Universal Trust stock traded down $0.01 during mid-day trading on Friday, hitting $7.93. 60,140 shares of the stock were exchanged, compared to its average volume of 44,843. Franklin Universal Trust has a 12 month low of $6.71 and a 12 month high of $8.07. The firm's fifty day simple moving average is $7.84 and its two-hundred day simple moving average is $7.57.

Franklin Universal Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a dividend of $0.0425 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend was Monday, August 18th.

Institutional Trading of Franklin Universal Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its stake in shares of Franklin Universal Trust by 20.9% in the first quarter. Advisors Asset Management Inc. now owns 214,496 shares of the financial services provider's stock valued at $1,615,000 after buying an additional 37,138 shares in the last quarter. Shaker Financial Services LLC lifted its position in Franklin Universal Trust by 106.6% in the 2nd quarter. Shaker Financial Services LLC now owns 70,883 shares of the financial services provider's stock valued at $540,000 after acquiring an additional 36,570 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in Franklin Universal Trust in the 1st quarter valued at about $162,000. Goldman Sachs Group Inc. acquired a new position in Franklin Universal Trust during the 1st quarter valued at about $117,000. Finally, Bridgewealth Advisory Group LLC acquired a new position in Franklin Universal Trust during the 2nd quarter valued at about $114,000.

Franklin Universal Trust Company Profile

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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