Franklin Universal Trust (NYSE:FT – Get Free Report) saw a large growth in short interest in the month of October. As of October 30th, there was short interest totaling 26,964 shares, a growth of 1,114.6% from the October 15th total of 2,220 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 56,710 shares, the short-interest ratio is currently 0.5 days.
Institutional Investors Weigh In On Franklin Universal Trust
A hedge fund recently bought a new stake in Franklin Universal Trust stock. Independent Financial Group LLC acquired a new stake in shares of Franklin Universal Trust (NYSE:FT – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 12,362 shares of the financial services provider’s stock, valued at approximately $99,000.
Franklin Universal Trust Trading Down 0.5%
Shares of NYSE FT traded down $0.04 during mid-day trading on Tuesday, reaching $7.46. The company had a trading volume of 34,831 shares, compared to its average volume of 56,411. Franklin Universal Trust has a twelve month low of $6.95 and a twelve month high of $8.35. The stock’s 50 day moving average is $7.30 and its 200-day moving average is $7.87.
Franklin Universal Trust Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 23rd will be issued a dividend of $0.0425 per share. This represents a $0.51 annualized dividend and a dividend yield of 6.8%. The ex-dividend date is Wednesday, December 23rd.
About Franklin Universal Trust
Franklin Universal Trust (NYSE: FT) is a diversified closed-end investment company managed by Franklin Advisers, Inc., an affiliate of Franklin Templeton. The fund seeks to provide high current income and long-term capital appreciation by investing in a portfolio of debt and equity securities. The trust invests across a range of issuers and industries, including utility companies and other income-oriented businesses. Its portfolio may include corporate bonds, preferred securities, common stocks and other investments, allowing the fund to pursue income while retaining the potential for capital growth.
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