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

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

Franklin Universal Trust Trading Up 0.6 %

Shares of NYSE:FT opened at $7.64 on Friday. Franklin Universal Trust has a 52-week low of $6.34 and a 52-week high of $7.80. The company has a fifty day moving average of $7.48 and a 200-day moving average of $7.47.

Franklin Universal Trust Announces Dividend

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

Hedge Funds Weigh In On Franklin Universal Trust

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bridgewealth Advisory Group LLC bought a new stake in shares of Franklin Universal Trust during the 4th quarter valued at $113,000. Stifel Financial Corp boosted its holdings in shares of Franklin Universal Trust by 6.6% in the 4th quarter. Stifel Financial Corp now owns 273,464 shares of the financial services provider’s stock valued at $1,999,000 after buying an additional 16,882 shares in the last quarter. Shaker Financial Services LLC boosted its stake in Franklin Universal Trust by 27.5% in the 4th quarter. Shaker Financial Services LLC now owns 51,188 shares of the financial services provider’s stock worth $374,000 after purchasing an additional 11,042 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Franklin Universal Trust during the 4th quarter worth approximately $614,000. Finally, LPL Financial LLC raised its position in Franklin Universal Trust by 0.3% during the 4th quarter. LPL Financial LLC now owns 652,535 shares of the financial services provider’s stock worth $4,770,000 after buying an additional 2,245 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.