Franklin Universal Trust (NYSE:FT) Short Interest Up 145.9% in September

Franklin Universal Trust (NYSE:FT) saw a significant increase in short interest in September. As of September 30th, there was short interest totalling 33,200 shares, an increase of 145.9% from the September 15th total of 13,500 shares. Based on an average daily trading volume, of 48,500 shares, the short-interest ratio is currently 0.7 days.

Franklin Universal Trust Price Performance

Shares of NYSE:FT traded up $0.02 during midday trading on Friday, hitting $7.49. The stock had a trading volume of 25,138 shares, compared to its average volume of 51,402. The company’s 50-day moving average price is $7.32 and its 200-day moving average price is $6.95. Franklin Universal Trust has a fifty-two week low of $5.97 and a fifty-two week high of $7.65.

Franklin Universal Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 17th will be paid a $0.0425 dividend. The ex-dividend date is Thursday, October 17th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.81%.

Hedge Funds Weigh In On Franklin Universal Trust

A number of institutional investors have recently added to or reduced their stakes in FT. Sanctuary Advisors LLC acquired a new position in Franklin Universal Trust in the 2nd quarter worth about $843,000. Wolverine Asset Management LLC increased its stake in shares of Franklin Universal Trust by 3.7% in the second quarter. Wolverine Asset Management LLC now owns 145,638 shares of the financial services provider’s stock valued at $992,000 after buying an additional 5,192 shares during the period. Commonwealth Equity Services LLC raised its holdings in Franklin Universal Trust by 654.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 151,663 shares of the financial services provider’s stock valued at $1,033,000 after buying an additional 131,558 shares during the last quarter. Moloney Securities Asset Management LLC boosted its position in Franklin Universal Trust by 4.3% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 653,758 shares of the financial services provider’s stock worth $4,452,000 after buying an additional 26,843 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Franklin Universal Trust by 18.7% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 262,024 shares of the financial services provider’s stock worth $1,784,000 after acquiring an additional 41,353 shares during the last quarter.

About Franklin Universal Trust

Franklin Universal Trust is a closed-ended balanced mutual fund launched by Franklin Resources, Inc The fund is managed by Franklin Advisers, Inc It invests in the public equity and fixed income markets of the United States. The fund invests in companies operating in utility sector. It employs fundamental analysis to invest in a diversified portfolio of corporate bonds and dividend paying utility stocks.