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

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

Institutional Trading of Franklin Universal Trust

Institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC lifted its position in shares of 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 valued at $218,000 after acquiring an additional 1,354 shares during the period. Stifel Financial Corp lifted its position in shares of Franklin Universal Trust by 4.5% during the 3rd quarter. Stifel Financial Corp now owns 256,582 shares of the financial services provider’s stock valued at $1,940,000 after acquiring an additional 11,047 shares during the period. Janney Montgomery Scott LLC lifted its position in shares of Franklin Universal Trust by 2.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 97,123 shares of the financial services provider’s stock valued at $734,000 after acquiring an additional 1,941 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of Franklin Universal Trust by 11.9% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 126,722 shares of the financial services provider’s stock valued at $958,000 after acquiring an additional 13,494 shares during the period. Finally, Moloney Securities Asset Management LLC lifted its position 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 valued at $4,997,000 after acquiring an additional 7,158 shares during the period.

Franklin Universal Trust Stock Performance

NYSE FT traded down $0.03 on Tuesday, reaching $7.64. The stock had a trading volume of 24,938 shares, compared to its average volume of 46,364. The firm has a fifty day moving average of $7.48 and a two-hundred day moving average of $7.48. Franklin Universal Trust has a 1-year low of $6.34 and a 1-year high of $7.80.

Franklin Universal Trust Dividend Announcement

The business also recently announced 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%.

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.