Franklin Universal Trust (NYSE:FT) Short Interest Update

Franklin Universal Trust (NYSE:FTGet Free Report) was the target of a large growth in short interest during the month of February. As of February 29th, there was short interest totalling 7,300 shares, a growth of 25.9% from the February 14th total of 5,800 shares. Based on an average trading volume of 58,600 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of Franklin Universal Trust

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. acquired a new stake in shares of Franklin Universal Trust during the 1st quarter worth about $59,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Franklin Universal Trust during the 2nd quarter worth about $68,000. Ameriprise Financial Inc. purchased a new position in Franklin Universal Trust during the 3rd quarter valued at about $65,000. Cetera Advisor Networks LLC purchased a new position in Franklin Universal Trust during the 2nd quarter valued at about $83,000. Finally, NewEdge Advisors LLC boosted its holdings in Franklin Universal Trust by 15.8% during the 1st quarter. NewEdge Advisors LLC now owns 16,100 shares of the financial services provider’s stock valued at $130,000 after acquiring an additional 2,200 shares during the period.

Franklin Universal Trust Stock Up 0.2 %

Shares of FT traded up $0.01 during midday trading on Friday, reaching $6.51. The company had a trading volume of 30,189 shares, compared to its average volume of 60,454. Franklin Universal Trust has a 1-year low of $5.97 and a 1-year high of $7.23. The firm has a 50 day simple moving average of $6.52 and a 200-day simple moving average of $6.49.

Franklin Universal Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th will be paid a $0.0425 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 7.83%. The ex-dividend date of this dividend is Monday, March 18th.

Franklin Universal Trust Company Profile

(Get Free Report)

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.

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