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

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

Hedge Funds Weigh In On Franklin Universal Trust

A number of institutional investors have recently bought and sold shares of the business. Moloney Securities Asset Management LLC lifted its stake in shares of Franklin Universal Trust by 1.1% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 660,916 shares of the financial services provider’s stock worth $4,997,000 after buying an additional 7,158 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in Franklin Universal Trust by 24.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 325,826 shares of the financial services provider’s stock worth $2,463,000 after acquiring an additional 63,802 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Franklin Universal Trust by 4.5% during the third quarter. Stifel Financial Corp now owns 256,582 shares of the financial services provider’s stock worth $1,940,000 after acquiring an additional 11,047 shares during the period. Commonwealth Equity Services LLC grew its position in shares of Franklin Universal Trust by 654.4% in the second quarter. Commonwealth Equity Services LLC now owns 151,663 shares of the financial services provider’s stock valued at $1,033,000 after purchasing an additional 131,558 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Franklin Universal Trust during the second quarter worth approximately $843,000.

Franklin Universal Trust Stock Performance

NYSE FT traded down $0.03 on Monday, hitting $7.25. 33,191 shares of the stock were exchanged, compared to its average volume of 51,042. The business’s fifty day moving average is $7.49 and its 200 day moving average is $7.33. Franklin Universal Trust has a 52 week low of $6.34 and a 52 week high of $7.80.

Franklin Universal Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 21st will be paid a $0.0425 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $0.51 annualized dividend and a yield of 7.03%.

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.