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

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Blue Bell Private Wealth Management LLC boosted its stake in Franklin Universal Trust by 17.0% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 11,210 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 1,632 shares in the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of Franklin Universal Trust during the 3rd quarter valued at $88,000. Bridgewealth Advisory Group LLC acquired a new stake in shares of Franklin Universal Trust in the 4th quarter worth $113,000. Noble Wealth Management PBC acquired a new stake in shares of Franklin Universal Trust in the 4th quarter worth $212,000. Finally, HighTower Advisors LLC grew its stake 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 last quarter.

Franklin Universal Trust Trading Up 0.5 %

Shares of FT traded up $0.04 during trading hours on Tuesday, hitting $7.57. The company had a trading volume of 30,072 shares, compared to its average volume of 43,502. Franklin Universal Trust has a one year low of $6.34 and a one year high of $7.80. The company’s fifty day moving average price is $7.55 and its two-hundred day moving average price is $7.52.

Franklin Universal Trust Dividend Announcement

The company also recently declared a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.0425 per share. This represents a $0.51 annualized dividend and a dividend yield of 6.74%. The ex-dividend date of this dividend was 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.