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

Franklin Universal Trust (NYSE:FT - Get Free Report) was the target of a significant 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. Based on an average daily volume of 43,000 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Trading of Franklin Universal Trust

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC lifted its holdings in Franklin Universal Trust by 4.9% during the third quarter. HighTower Advisors LLC now owns 28,804 shares of the financial services provider's stock worth $218,000 after acquiring an additional 1,354 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its holdings 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 valued at $82,000 after acquiring an additional 1,632 shares in the last quarter. Uncommon Cents Investing LLC increased its position in shares of Franklin Universal Trust by 1.1% during the 4th quarter. Uncommon Cents Investing LLC now owns 172,402 shares of the financial services provider's stock worth $1,260,000 after purchasing an additional 1,923 shares during the last quarter. LPL Financial LLC grew its position in shares of Franklin Universal Trust by 0.3% in the 4th quarter. LPL Financial LLC now owns 652,535 shares of the financial services provider's stock valued at $4,770,000 after acquiring an additional 2,245 shares during the period. Finally, Shaker Financial Services LLC raised its stake in Franklin Universal Trust by 27.5% in the fourth quarter. Shaker Financial Services LLC now owns 51,188 shares of the financial services provider's stock valued at $374,000 after buying an additional 11,042 shares during the period.

Franklin Universal Trust Trading Down 0.8 %

Shares of FT traded down $0.06 during mid-day trading on Thursday, reaching $7.47. The company had a trading volume of 13,839 shares, compared to its average volume of 43,152. Franklin Universal Trust has a twelve month low of $6.34 and a twelve month high of $7.80. The company's 50-day moving average is $7.55 and its 200-day moving average is $7.52.

Franklin Universal Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.0425 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.51 annualized dividend and a yield of 6.83%.

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.