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

Franklin Universal Trust (NYSE:FT) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 18,900 shares, an increase of 27.7% from the June 30th total of 14,800 shares. Based on an average trading volume of 43,300 shares, the short-interest ratio is currently 0.4 days.

Franklin Universal Trust Trading Up 0.9 %

Shares of FT stock opened at $6.93 on Friday. Franklin Universal Trust has a 1-year low of $5.97 and a 1-year high of $7.06. The firm’s 50-day simple moving average is $6.84 and its 200-day simple moving average is $6.66.

Franklin Universal Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Thursday, July 18th will be issued a dividend of $0.0425 per share. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $0.51 annualized dividend and a dividend yield of 7.36%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FT. Uncommon Cents Investing LLC raised its holdings in Franklin Universal Trust by 2.4% in the first quarter. Uncommon Cents Investing LLC now owns 164,674 shares of the financial services provider’s stock valued at $1,093,000 after buying an additional 3,824 shares during the period. PFG Investments LLC purchased a new position in Franklin Universal Trust in the first quarter valued at approximately $85,000. Hennion & Walsh Asset Management Inc. grew its position in Franklin Universal Trust by 20.4% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 220,671 shares of the financial services provider’s stock valued at $1,465,000 after acquiring an additional 37,408 shares in the last quarter. Moloney Securities Asset Management LLC grew its position in Franklin Universal Trust by 11.1% in the first quarter. Moloney Securities Asset Management LLC now owns 626,915 shares of the financial services provider’s stock valued at $4,163,000 after acquiring an additional 62,476 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its position in Franklin Universal Trust by 4,159.1% in the fourth quarter. Wolverine Asset Management LLC now owns 70,829 shares of the financial services provider’s stock valued at $471,000 after acquiring an additional 69,166 shares in the last quarter.

About Franklin Universal Trust

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.