Franklin Universal Trust (NYSE:FT) Sees Large Drop in Short Interest
by Mitch Edgeman · The Markets DailyFranklin Universal Trust (NYSE:FT – Get Free Report) saw a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 7,200 shares, a drop of 20.0% from the January 29th total of 8,998 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average trading volume of 73,822 shares, the short-interest ratio is currently 0.1 days. Based on an average trading volume of 73,822 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are sold short.
Franklin Universal Trust Stock Up 0.1%
Franklin Universal Trust stock traded up $0.01 during trading hours on Wednesday, hitting $8.28. 43,836 shares of the stock traded hands, compared to its average volume of 65,141. The firm’s 50 day moving average price is $8.13 and its 200-day moving average price is $8.03. Franklin Universal Trust has a 1 year low of $6.71 and a 1 year high of $8.35.
Franklin Universal Trust Announces Dividend
The firm also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 24th will be issued a $0.0425 dividend. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date is Tuesday, March 24th.
Institutional Trading of Franklin Universal Trust
Institutional investors and hedge funds have recently bought and sold shares of the business. Moloney Securities Asset Management LLC raised its holdings in shares of Franklin Universal Trust by 1.2% during 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. raised its stake in shares of Franklin Universal Trust by 60.5% during the 4th quarter. Advisors Asset Management Inc. now owns 689,053 shares of the financial services provider’s stock valued at $5,512,000 after buying an additional 259,603 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted 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 buying an additional 294,814 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Franklin Universal Trust by 10.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 255,823 shares of the financial services provider’s stock worth $2,047,000 after buying an additional 23,630 shares during the last quarter. Finally, Commonwealth Equity Services LLC grew its holdings in Franklin Universal Trust by 43.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 242,061 shares of the financial services provider’s stock worth $1,936,000 after acquiring an additional 73,030 shares during the period.
Franklin Universal Trust Company Profile
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.