Franklin Universal Trust (NYSE:FT) Sees Large Increase in Short Interest

Franklin Universal Trust (NYSE:FT) was the target of a significant growth in short interest in October. As of October 30th, there was short interest totaling 26,964 shares, a growth of 1,114.6% from the October 15th total of 2,220 shares. Based on an average daily trading volume, of 56,710 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.1% of the shares of the stock are short sold.

Franklin Universal Trust Price Performance

NYSE:FT traded down $0.09 during mid-day trading on Thursday, reaching $7.39. 46,018 shares of the stock were exchanged, compared to its average volume of 48,555. The business has a fifty day moving average price of $7.30 and a 200 day moving average price of $7.87. Franklin Universal Trust has a 1-year low of $6.95 and a 1-year high of $8.35.

Franklin Universal Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, December 23rd will be issued a $0.0425 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 6.9%. The ex-dividend date of this dividend is Wednesday, December 23rd.

Hedge Funds Weigh In On Franklin Universal Trust

Several large investors have recently made changes to their positions in FT. Advisors Asset Management Inc. bought a new stake in shares of Franklin Universal Trust in the 3rd quarter worth approximately $2,194,000. Shaker Financial Services LLC boosted its holdings in Franklin Universal Trust by 142.4% during the third quarter. Shaker Financial Services LLC now owns 60,281 shares of the financial services provider’s stock worth $424,000 after buying an additional 35,411 shares in the last quarter. Finally, Independent Financial Group LLC acquired a new position in Franklin Universal Trust in the first quarter worth approximately $99,000.

About Franklin Universal Trust

Franklin Universal Trust (NYSE: FT) is a diversified closed-end investment company managed by Franklin Advisers, Inc., an affiliate of Franklin Templeton. The fund seeks to provide high current income and long-term capital appreciation by investing in a portfolio of debt and equity securities. The trust invests across a range of issuers and industries, including utility companies and other income-oriented businesses. Its portfolio may include corporate bonds, preferred securities, common stocks and other investments, allowing the fund to pursue income while retaining the potential for capital growth.