Franklin Universal Trust (NYSE:FT) Short Interest Down 42.4% in May

Franklin Universal Trust (NYSE:FT) was the target of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 22,123 shares, a decline of 42.4% from the April 30th total of 38,380 shares. Based on an average daily trading volume, of 54,406 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the company’s shares are short sold.

Franklin Universal Trust Stock Down 0.1%

Shares of NYSE:FT traded down $0.01 during trading hours on Tuesday, hitting $7.97. 16,004 shares of the company’s stock traded hands, compared to its average volume of 47,230. Franklin Universal Trust has a 1 year low of $7.43 and a 1 year high of $8.35. The business has a fifty day moving average price of $8.10 and a 200-day moving average price of $8.09.

Franklin Universal Trust Announces Dividend

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

Institutional Trading of Franklin Universal Trust

Large investors have recently modified their holdings of the company. Noble Wealth Management PBC purchased a new stake in shares of Franklin Universal Trust in the fourth quarter valued at approximately $32,000. Spire Wealth Management purchased a new stake in shares of Franklin Universal Trust in the fourth quarter valued at approximately $40,000. PNC Financial Services Group Inc. boosted its holdings in shares of Franklin Universal Trust by 61.6% in the third quarter. PNC Financial Services Group Inc. now owns 5,174 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 1,972 shares during the period. PMG Family Office LLC purchased a new stake in shares of Franklin Universal Trust in the third quarter valued at approximately $93,000. Finally, Independent Financial Group LLC purchased a new stake in shares of Franklin Universal Trust in the first quarter valued at approximately $99,000.

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.