Short Interest in Franklin Universal Trust (NYSE:FT) Declines By 63.5%

Franklin Universal Trust (NYSE:FT) saw a significant decrease in short interest during the month of January. As of January 30th, there was short interest totaling 8,998 shares, a decrease of 63.5% from the January 15th total of 24,648 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 68,141 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 68,141 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s shares are sold short.

Institutional Investors Weigh In On Franklin Universal Trust

Several hedge funds and other institutional investors have recently modified their holdings of FT. Moloney Securities Asset Management LLC increased its holdings in Franklin Universal Trust by 1.2% in the third quarter. Moloney Securities Asset Management LLC now owns 691,160 shares of the financial services provider’s stock valued at $5,557,000 after buying an additional 7,995 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of Franklin Universal Trust by 102.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 429,450 shares of the financial services provider’s stock worth $3,453,000 after acquiring an additional 217,780 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Franklin Universal Trust by 58,962.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 295,314 shares of the financial services provider’s stock valued at $2,363,000 after acquiring an additional 294,814 shares during the last quarter. Uncommon Cents Investing LLC raised its position in shares of 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 valued at $1,483,000 after acquiring an additional 2,758 shares in the last quarter. Finally, Shaker Financial Services LLC lifted its stake in Franklin Universal Trust by 106.6% during the second quarter. Shaker Financial Services LLC now owns 70,883 shares of the financial services provider’s stock worth $540,000 after purchasing an additional 36,570 shares during the last quarter.

Franklin Universal Trust Stock Performance

NYSE:FT opened at $8.19 on Wednesday. The firm’s fifty day simple moving average is $8.03 and its 200 day simple moving average is $7.99. Franklin Universal Trust has a twelve month low of $6.71 and a twelve month high of $8.20.

Franklin Universal Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be given a $0.0425 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Tuesday, March 24th.

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.