Franklin Universal Trust (NYSE:FT) Sees Large Drop in Short Interest

Franklin Universal Trust (NYSE:FT) saw a large drop in short interest during the month of January. As of January 15th, there was short interest totalling 10,200 shares, a drop of 71.4% from the December 31st total of 35,700 shares. Based on an average daily trading volume, of 42,000 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Trading of Franklin Universal Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James Trust N.A. acquired a new stake in shares of Franklin Universal Trust in the 3rd quarter valued at approximately $79,000. Arete Wealth Advisors LLC bought a new stake in shares of Franklin Universal Trust during the third quarter worth $88,000. HighTower Advisors LLC increased its holdings in shares of Franklin Universal Trust by 4.9% during the third quarter. HighTower Advisors LLC now owns 28,804 shares of the financial services provider’s stock worth $218,000 after buying an additional 1,354 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Franklin Universal Trust by 2.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 97,123 shares of the financial services provider’s stock valued at $734,000 after acquiring an additional 1,941 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of Franklin Universal Trust during the 2nd quarter valued at $843,000.

Franklin Universal Trust Price Performance

Franklin Universal Trust stock traded up $0.04 during midday trading on Wednesday, hitting $7.49. The company’s stock had a trading volume of 33,156 shares, compared to its average volume of 50,448. The company has a 50-day moving average price of $7.48 and a two-hundred day moving average price of $7.38. Franklin Universal Trust has a 1-year low of $6.34 and a 1-year high of $7.80.

Franklin Universal Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, January 21st will be paid a dividend of $0.0425 per share. The ex-dividend date is Tuesday, January 21st. This represents a $0.51 dividend on an annualized basis and a yield of 6.81%.

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.