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

Franklin Universal Trust (NYSE:FT) was the recipient of a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 46,600 shares, an increase of 46.5% from the February 28th total of 31,800 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 43,000 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Bell Private Wealth Management LLC grew its holdings in Franklin Universal Trust by 17.0% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 11,210 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 1,632 shares during the last quarter. Arete Wealth Advisors LLC bought a new stake in shares of Franklin Universal Trust in the third quarter worth $88,000. Bridgewealth Advisory Group LLC acquired a new stake in Franklin Universal Trust in the fourth quarter valued at $113,000. Noble Wealth Management PBC bought a new position in Franklin Universal Trust during the 4th quarter worth $212,000. Finally, HighTower Advisors LLC lifted its holdings in 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 buying an additional 1,354 shares during the period.

Franklin Universal Trust Trading Up 0.3 %

Shares of NYSE FT traded up $0.03 during mid-day trading on Friday, hitting $7.50. 39,781 shares of the stock traded hands, compared to its average volume of 43,539. Franklin Universal Trust has a twelve month low of $6.34 and a twelve month high of $7.80. The firm has a 50 day simple moving average of $7.55 and a two-hundred day simple moving average of $7.52.

Franklin Universal Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be issued a dividend of $0.0425 per share. This represents a $0.51 annualized dividend and a dividend yield of 6.80%. The ex-dividend date of this dividend is Monday, March 17th.

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.