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

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

Hedge Funds Weigh In On Franklin Universal Trust

A number of large investors have recently modified their holdings of FT. Sanctuary Advisors LLC bought a new position in Franklin Universal Trust in the 2nd quarter valued at about $843,000. Hennion & Walsh Asset Management Inc. raised its stake in shares of Franklin Universal Trust by 24.3% in 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 purchasing an additional 63,802 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Franklin Universal Trust by 2.0% in the third quarter. Janney Montgomery Scott LLC now owns 97,123 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 1,941 shares in the last quarter. Moloney Securities Asset Management LLC boosted its position in shares of Franklin Universal Trust by 1.1% during the third quarter. Moloney Securities Asset Management LLC now owns 660,916 shares of the financial services provider’s stock valued at $4,997,000 after buying an additional 7,158 shares during the last quarter. Finally, Raymond James Trust N.A. bought a new stake in Franklin Universal Trust during the third quarter worth $79,000.

Franklin Universal Trust Price Performance

Shares of FT stock traded up $0.04 on Wednesday, reaching $7.49. 33,156 shares of the company were exchanged, compared to its average volume of 50,448. The company has a 50-day moving average of $7.48 and a 200-day moving average of $7.38. Franklin Universal Trust has a one year low of $6.34 and a one 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. Stockholders of record on Tuesday, January 21st will be issued a dividend of $0.0425 per share. The ex-dividend date is Tuesday, January 21st. This represents a $0.51 annualized dividend and a dividend 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.