Franklin Universal Trust (NYSE:FT) Sees Large Growth in Short Interest

Franklin Universal Trust (NYSE:FT) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 13,092 shares, a growth of 100.6% from the August 31st total of 6,527 shares. Approximately 0.1% of the company’s stock are short sold. Based on an average daily volume of 59,376 shares, the days-to-cover ratio is currently 0.2 days.

Franklin Universal Trust Price Performance

Shares of NYSE FT traded down $0.08 during trading on Monday, hitting $7.01. 57,880 shares of the company traded hands, compared to its average volume of 46,910. The business’s fifty day moving average is $7.72 and its 200 day moving average is $7.95. Franklin Universal Trust has a fifty-two week low of $7.00 and a fifty-two week high of $8.35.

Franklin Universal Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be paid a dividend of $0.0425 per share. This represents a $0.51 dividend on an annualized basis and a yield of 7.3%. The ex-dividend date of this dividend is Wednesday, September 23rd.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Harbour Investments Inc. lifted its holdings in shares of Franklin Universal Trust by 15.1% in the fourth quarter. Harbour Investments Inc. now owns 51,496 shares of the financial services provider’s stock valued at $412,000 after purchasing an additional 6,750 shares in the last quarter. Independent Financial Group LLC purchased a new stake in Franklin Universal Trust in the 1st quarter valued at $99,000. Finally, Thoroughbred Financial Services LLC purchased a new stake in Franklin Universal Trust in the 4th quarter valued at $176,000.

About Franklin Universal Trust

Franklin Universal Trust is a diversified closed-end management investment company listed on the New York Stock Exchange under the symbol FT. The fund seeks to provide investors with a high level of current income while also pursuing capital appreciation.

The trust invests in a combination of debt and equity securities. Its portfolio may include corporate bonds and other fixed-income securities, common and preferred stocks, and convertible securities. Through this flexible approach, the fund can obtain income from interest and dividends while maintaining exposure to potential long-term growth.

Franklin Advisers, Inc, part of Franklin Templeton, serves as the fund’s investment adviser.