Franklin Universal Trust (NYSE:FT) Short Interest Update

Franklin Universal Trust (NYSE:FT) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 22,123 shares, a decline of 42.4% from the April 30th total of 38,380 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 54,406 shares, the days-to-cover ratio is currently 0.4 days.

Franklin Universal Trust Stock Down 0.4%

NYSE:FT traded down $0.03 during midday trading on Thursday, hitting $7.94. The stock had a trading volume of 32,210 shares, compared to its average volume of 47,263. Franklin Universal Trust has a one year low of $7.43 and a one year high of $8.35. The stock has a 50-day moving average of $8.10 and a 200 day moving average of $8.09.

Franklin Universal Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.0425 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%.

Institutional Trading of Franklin Universal Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. grew its stake in shares of Franklin Universal Trust by 2.3% during the second quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 1,455 shares during the last quarter. Invesco Ltd. raised its position in shares of Franklin Universal Trust by 7.6% in the 4th quarter. Invesco Ltd. now owns 24,001 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 1,686 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Franklin Universal Trust by 61.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,174 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 1,972 shares in the last quarter. Uncommon Cents Investing LLC grew its position in Franklin Universal Trust by 1.5% during the 4th quarter. Uncommon Cents Investing LLC now owns 185,420 shares of the financial services provider’s stock worth $1,483,000 after purchasing an additional 2,758 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in Franklin Universal Trust by 3.0% during the 4th quarter. Wells Fargo & Company MN now owns 109,700 shares of the financial services provider’s stock worth $878,000 after purchasing an additional 3,218 shares during the last quarter.

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.