Franklin Universal Trust (NYSE:FT) Short Interest Down 71.4% in January

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

Franklin Universal Trust Price Performance

Shares of Franklin Universal Trust stock remained flat at $7.55 during trading on Friday. 59,431 shares of the stock were exchanged, compared to its average volume of 45,454. The stock has a fifty day moving average price of $7.47 and a 200-day moving average price of $7.39. Franklin Universal Trust has a fifty-two week low of $6.34 and a fifty-two week high of $7.80.

Franklin Universal Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, January 21st were paid a $0.0425 dividend. The ex-dividend date was Tuesday, January 21st. This represents a $0.51 dividend on an annualized basis and a yield of 6.75%.

Institutional Investors Weigh In On Franklin Universal Trust

Institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC acquired a new position in Franklin Universal Trust in the 2nd quarter valued at about $843,000. Hennion & Walsh Asset Management Inc. grew its stake in shares of Franklin Universal Trust by 24.3% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 325,826 shares of the financial services provider's stock valued at $2,463,000 after purchasing an additional 63,802 shares during the last quarter. Janney Montgomery Scott LLC increased 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 during the period. Moloney Securities Asset Management LLC raised its stake 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 worth $4,997,000 after purchasing an additional 7,158 shares during the last quarter. Finally, Raymond James Trust N.A. acquired a new stake in shares of Franklin Universal Trust during the third quarter worth $79,000.

Franklin Universal Trust Company Profile

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.