Short Interest in Franklin Universal Trust (NYSE:FT) Drops By 35.0%

Franklin Universal Trust (NYSE:FT) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 19,900 shares, a decline of 35.0% from the September 30th total of 30,600 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 51,400 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 51,400 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Investors Weigh In On Franklin Universal Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wolverine Asset Management LLC acquired a new stake in Franklin Universal Trust during the second quarter worth approximately $35,000. MB Levis & Associates LLC bought a new stake in shares of Franklin Universal Trust during the 1st quarter valued at $77,000. Oppenheimer & Co. Inc. acquired a new stake in shares of Franklin Universal Trust during the 1st quarter worth $81,000. Bridgewealth Advisory Group LLC acquired a new stake in shares of Franklin Universal Trust during the 2nd quarter worth $114,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Franklin Universal Trust in the first quarter worth $117,000.

Franklin Universal Trust Trading Down 0.6%

FT stock opened at $7.95 on Tuesday. Franklin Universal Trust has a fifty-two week low of $6.71 and a fifty-two week high of $8.20. The business’s fifty day moving average price is $7.98 and its two-hundred day moving average price is $7.74.

Franklin Universal Trust Dividend Announcement

The firm also recently announced a oct 25 dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 17th were issued a dividend of $0.0425 per share. The ex-dividend date of this dividend was Friday, October 17th. This represents a dividend yield of 630.0%.

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.