Franklin Universal Trust (NYSE:FT) Short Interest Up 259.2% in August

Franklin Universal Trust (NYSE:FT) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 25,500 shares, a growth of 259.2% from the August 15th total of 7,100 shares. Based on an average daily volume of 44,100 shares, the short-interest ratio is currently 0.6 days.

Franklin Universal Trust Stock Performance

NYSE FT traded up $0.08 on Friday, hitting $7.42. 26,640 shares of the company’s stock were exchanged, compared to its average volume of 51,433. The firm’s 50-day moving average price is $7.09 and its two-hundred day moving average price is $6.81. Franklin Universal Trust has a fifty-two week low of $5.97 and a fifty-two week high of $7.44.

Franklin Universal Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, September 30th. Shareholders of record on Thursday, September 19th will be given a dividend of $0.0425 per share. This represents a $0.51 annualized dividend and a yield of 6.87%. The ex-dividend date is Thursday, September 19th.

Hedge Funds Weigh In On Franklin Universal Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its holdings in shares of Franklin Universal Trust by 654.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 151,663 shares of the financial services provider’s stock worth $1,033,000 after acquiring an additional 131,558 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Franklin Universal Trust in the 2nd quarter worth approximately $843,000. Cetera Advisors LLC acquired a new stake in shares of Franklin Universal Trust in the 1st quarter worth approximately $514,000. Moloney Securities Asset Management LLC grew its holdings in shares of Franklin Universal Trust by 11.1% in the 1st quarter. Moloney Securities Asset Management LLC now owns 626,915 shares of the financial services provider’s stock worth $4,163,000 after acquiring an additional 62,476 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Franklin Universal Trust by 18.7% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 262,024 shares of the financial services provider’s stock worth $1,784,000 after acquiring an additional 41,353 shares during the period.

Franklin Universal Trust Company Profile

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.