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

Franklin Universal Trust (NYSE:FT) was the recipient of a significant growth in short interest during 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 trading volume, of 44,100 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Investors Weigh In On Franklin Universal Trust

A number of large investors have recently added to or reduced their stakes in FT. Cetera Advisors LLC bought a new position in Franklin Universal Trust during the 1st quarter worth approximately $514,000. Sanctuary Advisors LLC purchased a new stake in shares of Franklin Universal Trust during the second quarter worth about $843,000. Wolverine Asset Management LLC grew its stake in shares of Franklin Universal Trust by 3.7% in the second quarter. Wolverine Asset Management LLC now owns 145,638 shares of the financial services provider’s stock worth $992,000 after purchasing an additional 5,192 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Franklin Universal Trust by 654.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 151,663 shares of the financial services provider’s stock valued at $1,033,000 after purchasing an additional 131,558 shares during the last quarter. Finally, Uncommon Cents Investing LLC lifted its holdings in Franklin Universal Trust by 2.4% in the 1st quarter. Uncommon Cents Investing LLC now owns 164,674 shares of the financial services provider’s stock worth $1,093,000 after buying an additional 3,824 shares during the period.

Franklin Universal Trust Stock Performance

FT traded up $0.06 during trading on Friday, reaching $7.40. 13,301 shares of the company were exchanged, compared to its average volume of 51,358. Franklin Universal Trust has a 12-month low of $5.97 and a 12-month high of $7.40. The company’s 50-day moving average is $7.07 and its two-hundred day moving average is $6.81.

Franklin Universal Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, September 30th. Investors of record on Thursday, September 19th will be given a $0.0425 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.51 annualized dividend and a yield of 6.89%.

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.