Franklin Universal Trust (NYSE:FT) Short Interest Down 38.2% in May

Franklin Universal Trust (NYSE:FTGet Free Report) saw a significant drop in short interest in May. As of May 29th, there was short interest totaling 13,670 shares, a drop of 38.2% from the May 14th total of 22,123 shares. Based on an average daily volume of 43,635 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the company’s stock are short sold.

Hedge Funds Weigh In On Franklin Universal Trust

A number of institutional investors have recently modified their holdings of the business. Independent Financial Group LLC acquired a new position in shares of Franklin Universal Trust in the 1st quarter valued at $99,000. Invesco Ltd. increased its holdings in shares of Franklin Universal Trust by 7.6% in the 4th quarter. Invesco Ltd. now owns 24,001 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 1,686 shares during the period. Evolve Private Wealth LLC acquired a new position in shares of Franklin Universal Trust in the 4th quarter valued at $899,000. Cetera Investment Advisers increased its holdings in shares of Franklin Universal Trust by 10.5% in the 4th quarter. Cetera Investment Advisers now owns 108,336 shares of the financial services provider’s stock valued at $867,000 after acquiring an additional 10,297 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Franklin Universal Trust by 3.0% in the 4th quarter. Wells Fargo & Company MN now owns 109,700 shares of the financial services provider’s stock valued at $878,000 after acquiring an additional 3,218 shares during the period.

Franklin Universal Trust Price Performance

FT stock opened at $7.99 on Monday. Franklin Universal Trust has a twelve month low of $7.43 and a twelve month high of $8.35. The company’s 50 day moving average is $8.10 and its two-hundred day moving average is $8.09.

Franklin Universal Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be issued a dividend of $0.0425 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a yield of 6.4%.

Franklin Universal Trust Company Profile

(Get Free Report)

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.

See Also

Receive News & Ratings for Franklin Universal Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franklin Universal Trust and related companies with MarketBeat.com's FREE daily email newsletter.