Franklin Universal Trust (NYSE:FT) Stock Short Interest Climbs 100.6%

Franklin Universal Trust (NYSE:FT) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 13,092 shares, a growth of 100.6% from the August 31st total of 6,527 shares. Based on an average daily volume of 59,376 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FT. Harbour Investments Inc. grew its position in shares of Franklin Universal Trust by 15.1% during the 4th quarter. Harbour Investments Inc. now owns 51,496 shares of the financial services provider’s stock worth $412,000 after buying an additional 6,750 shares in the last quarter. Independent Financial Group LLC bought a new stake in shares of Franklin Universal Trust in the first quarter valued at about $99,000. Finally, Thoroughbred Financial Services LLC bought a new stake in shares of Franklin Universal Trust in the fourth quarter valued at about $176,000.

Franklin Universal Trust Price Performance

Franklin Universal Trust stock traded up $0.09 during midday trading on Tuesday, reaching $7.04. 81,551 shares of the stock traded hands, compared to its average volume of 55,346. The stock’s fifty day moving average is $7.68 and its 200-day moving average is $7.94. Franklin Universal Trust has a 12 month low of $6.95 and a 12 month high of $8.35.

Franklin Universal Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd will be given a dividend of $0.0425 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 7.2%. The ex-dividend date is Wednesday, September 23rd.

Franklin Universal Trust Company Profile

Franklin Universal Trust is a diversified closed-end management investment company listed on the New York Stock Exchange under the symbol FT. The fund seeks to provide investors with a high level of current income while also pursuing capital appreciation.

The trust invests in a combination of debt and equity securities. Its portfolio may include corporate bonds and other fixed-income securities, common and preferred stocks, and convertible securities. Through this flexible approach, the fund can obtain income from interest and dividends while maintaining exposure to potential long-term growth.

Franklin Advisers, Inc, part of Franklin Templeton, serves as the fund’s investment adviser.