Short Interest in Franklin Universal Trust (NYSE:FT) Grows By 96.7%
by Teresa Graham · The Cerbat GemFranklin Universal Trust (NYSE:FT – Get Free Report) saw a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 41,420 shares, an increase of 96.7% from the November 30th total of 21,057 shares. Based on an average trading volume of 55,072 shares, the short-interest ratio is currently 0.8 days. Approximately 0.2% of the company’s stock are sold short. Approximately 0.2% of the company’s stock are sold short. Based on an average trading volume of 55,072 shares, the short-interest ratio is currently 0.8 days.
Institutional Trading of Franklin Universal Trust
A number of large investors have recently made changes to their positions in FT. Moloney Securities Asset Management LLC boosted 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 worth $5,557,000 after purchasing an additional 7,995 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Franklin Universal Trust by 102.9% in the third 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 during the period. Uncommon Cents Investing LLC increased its position in Franklin Universal Trust by 0.9% during the third quarter. Uncommon Cents Investing LLC now owns 182,662 shares of the financial services provider’s stock valued at $1,469,000 after acquiring an additional 1,647 shares during the last quarter. Shaker Financial Services LLC lifted its holdings in Franklin Universal Trust by 106.6% in the second quarter. Shaker Financial Services LLC now owns 70,883 shares of the financial services provider’s stock valued at $540,000 after acquiring an additional 36,570 shares during the period. Finally, Raymond James Financial Inc. boosted its position in Franklin Universal Trust by 2.3% in the second quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 1,455 shares during the last quarter.
Franklin Universal Trust Stock Performance
FT traded down $0.04 during trading on Friday, hitting $8.01. 18,693 shares of the company’s stock traded hands, compared to its average volume of 45,869. The company’s 50 day simple moving average is $7.99 and its two-hundred day simple moving average is $7.89. Franklin Universal Trust has a 12-month low of $6.71 and a 12-month high of $8.20.
Franklin Universal Trust Announces Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $0.0425 dividend. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date is Monday, December 15th.
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.