Franklin Universal Trust (NYSE:FT – Get Free Report) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 4,255 shares, a drop of 75.3% from the June 15th total of 17,247 shares. Based on an average daily volume of 35,960 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are short sold.
Institutional Trading of Franklin Universal Trust
Hedge funds have recently added to or reduced their stakes in the stock. Raymond James Financial Inc. raised its stake in Franklin Universal Trust by 2.3% in the 2nd quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider’s stock valued at $486,000 after acquiring an additional 1,455 shares during the period. Invesco Ltd. lifted its holdings in Franklin Universal Trust by 7.6% during the fourth quarter. Invesco Ltd. now owns 24,001 shares of the financial services provider’s stock valued at $192,000 after purchasing an additional 1,686 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Franklin Universal Trust by 61.6% during the third quarter. PNC Financial Services Group Inc. now owns 5,174 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 1,972 shares during the period. Uncommon Cents Investing LLC increased its stake in shares of Franklin Universal Trust by 1.5% in the fourth quarter. Uncommon Cents Investing LLC now owns 185,420 shares of the financial services provider’s stock worth $1,483,000 after purchasing an additional 2,758 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Franklin Universal Trust by 3.0% in the fourth quarter. Wells Fargo & Company MN now owns 109,700 shares of the financial services provider’s stock worth $878,000 after purchasing an additional 3,218 shares in the last quarter.
Franklin Universal Trust Trading Up 0.3%
Shares of NYSE FT traded up $0.03 during mid-day trading on Monday, reaching $8.07. 47,170 shares of the company’s stock were exchanged, compared to its average volume of 29,258. The firm has a 50-day moving average price of $8.03 and a two-hundred day moving average price of $8.10. Franklin Universal Trust has a 52 week low of $7.57 and a 52 week high of $8.35.
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.
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