Franklin Universal Trust (NYSE:FT) Short Interest Down 38.2% in May

Franklin Universal Trust (NYSE:FT) was the target of a significant decline in short interest during the month of May. As of May 29th, there was short interest totaling 13,670 shares, a decline of 38.2% from the May 14th total of 22,123 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 43,635 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Trading of Franklin Universal Trust

Several hedge funds have recently bought and sold shares of the stock. Noble Wealth Management PBC bought a new position in shares of Franklin Universal Trust in the fourth quarter worth about $32,000. Spire Wealth Management purchased a new stake in Franklin Universal Trust during the fourth quarter valued at approximately $40,000. PNC Financial Services Group Inc. raised its holdings in shares of Franklin Universal Trust by 61.6% in the third 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. PMG Family Office LLC purchased a new stake in Franklin Universal Trust in the 3rd quarter valued at about $93,000. Finally, Independent Financial Group LLC purchased a new position in shares of Franklin Universal Trust during the first quarter valued at $99,000.

Franklin Universal Trust Stock Up 0.0%

Shares of FT stock traded up $0.00 during mid-day trading on Wednesday, hitting $8.06. The company’s stock had a trading volume of 2,983 shares, compared to its average volume of 46,236. Franklin Universal Trust has a 52-week low of $7.43 and a 52-week high of $8.35. The business has a 50-day moving average price of $8.09 and a 200 day moving average price of $8.09.

Franklin Universal Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be issued a $0.0425 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) annualized dividend and a dividend yield of 6.3%.

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.