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

Franklin Universal Trust (NYSE:FT) was the recipient of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 29,600 shares, a drop of 36.2% from the January 31st total of 46,400 shares. Based on an average daily trading volume, of 43,200 shares, the short-interest ratio is currently 0.7 days.

Franklin Universal Trust Price Performance

Shares of NYSE:FT opened at $7.64 on Friday. The stock’s 50-day moving average price is $7.48 and its two-hundred day moving average price is $7.47. Franklin Universal Trust has a 12-month low of $6.34 and a 12-month high of $7.80.

Franklin Universal Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, February 28th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.0425 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.68%. The ex-dividend date was Tuesday, February 18th.

Institutional Trading of Franklin Universal Trust

A number of institutional investors have recently modified their holdings of FT. Raymond James Trust N.A. purchased a new position in Franklin Universal Trust in the 3rd quarter worth approximately $79,000. Blue Bell Private Wealth Management LLC boosted its stake in Franklin Universal Trust by 17.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 11,210 shares of the financial services provider’s stock valued at $82,000 after buying an additional 1,632 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of Franklin Universal Trust during the third quarter valued at $88,000. Bridgewealth Advisory Group LLC purchased a new stake in Franklin Universal Trust in the 4th quarter worth about $113,000. Finally, HighTower Advisors LLC raised its stake in shares of Franklin Universal Trust by 4.9% during the 3rd quarter. HighTower Advisors LLC now owns 28,804 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 1,354 shares in the last quarter.

Franklin Universal Trust Company Profile

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.