Franklin Universal Trust (NYSE:FT) Short Interest Update

Franklin Universal Trust (NYSE:FT) saw a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 6,527 shares, a decrease of 56.9% from the August 15th total of 15,143 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 76,918 shares, the short-interest ratio is presently 0.1 days.

Franklin Universal Trust Price Performance

NYSE:FT traded down $0.07 on Monday, reaching $7.46. The company’s stock had a trading volume of 64,502 shares, compared to its average volume of 46,361. Franklin Universal Trust has a 12-month low of $7.45 and a 12-month high of $8.35. The stock has a 50 day moving average price of $7.88 and a 200 day moving average price of $8.02.

Franklin Universal Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be given a dividend of $0.0425 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Wednesday, September 23rd.

Institutional Investors Weigh In On Franklin Universal Trust

A number of institutional investors and hedge funds have recently made changes to their positions in FT. Northwestern Mutual Wealth Management Co. boosted its position in shares of Franklin Universal Trust by 58,962.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 295,314 shares of the financial services provider’s stock worth $2,363,000 after purchasing an additional 294,814 shares during the period. Harbour Investments Inc. lifted its stake in Franklin Universal Trust by 15.1% during the fourth quarter. Harbour Investments Inc. now owns 51,496 shares of the financial services provider’s stock worth $412,000 after purchasing an additional 6,750 shares in the last quarter. Thoroughbred Financial Services LLC purchased a new position in shares of Franklin Universal Trust during the fourth quarter worth $176,000. Finally, Independent Financial Group LLC purchased a new position in shares of Franklin Universal Trust during the first quarter worth $99,000.

About Franklin Universal Trust

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.