Short Interest in Franklin Universal Trust (NYSE:FT) Drops By 36.2%

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

Hedge Funds Weigh In On Franklin Universal Trust

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Trust N.A. purchased a new position in shares of Franklin Universal Trust in the third quarter valued at about $79,000. Blue Bell Private Wealth Management LLC grew its stake in shares of Franklin Universal Trust by 17.0% in 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 buying an additional 1,632 shares during the last quarter. Arete Wealth Advisors LLC bought a new position in shares of Franklin Universal Trust during the third quarter valued at $88,000. Bridgewealth Advisory Group LLC bought a new stake in Franklin Universal Trust during the 4th quarter valued at about $113,000. Finally, Noble Wealth Management PBC purchased a new position in Franklin Universal Trust in the 4th quarter worth approximately $212,000.

Franklin Universal Trust Price Performance

Shares of Franklin Universal Trust stock traded down $0.04 during trading on Wednesday, reaching $7.58. The company's stock had a trading volume of 75,172 shares, compared to its average volume of 46,599. Franklin Universal Trust has a 52-week low of $6.34 and a 52-week high of $7.80. The firm's 50-day moving average is $7.49 and its two-hundred day moving average is $7.48.

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Franklin Universal Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, February 28th. Shareholders 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 annualized dividend and a yield of 6.73%.

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.