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

Franklin Universal Trust (NYSE:FT) was the recipient of a significant decrease in short interest in the month of May. As of May 29th, there was short interest totaling 13,670 shares, a decrease 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. Approximately 0.1% of the company’s shares are sold short.

Institutional Trading of Franklin Universal Trust

Hedge funds have recently added to or reduced their stakes in the company. Noble Wealth Management PBC acquired a new stake in Franklin Universal Trust in the fourth quarter valued at approximately $32,000. Spire Wealth Management acquired a new stake in Franklin Universal Trust in the fourth quarter valued at approximately $40,000. PNC Financial Services Group Inc. raised its holdings in 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 acquiring an additional 1,972 shares in the last quarter. PMG Family Office LLC acquired a new stake in Franklin Universal Trust in the third quarter valued at approximately $93,000. Finally, Independent Financial Group LLC acquired a new stake in Franklin Universal Trust in the first quarter valued at approximately $99,000.

Franklin Universal Trust Price Performance

Shares of FT stock opened at $7.99 on Monday. The company has a 50-day moving average of $8.10 and a two-hundred day moving average of $8.09. Franklin Universal Trust has a 1-year low of $7.43 and a 1-year high of $8.35.

Franklin Universal Trust Announces Dividend

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

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.