Franklin Universal Trust (NYSE:FT) Sees Large Decline in Short Interest

Franklin Universal Trust (NYSE:FT) was the recipient of a large decline in short interest during the month of February. As of February 15th, there was short interest totalling 29,600 shares, a decline of 36.2% from the January 31st total of 46,400 shares. Based on an average daily volume of 43,200 shares, the days-to-cover ratio is currently 0.7 days.

Franklin Universal Trust Stock Down 0.3 %

Shares of NYSE:FT traded down $0.03 during trading on Tuesday, hitting $7.64. 24,938 shares of the company were exchanged, compared to its average volume of 46,364. Franklin Universal Trust has a fifty-two week low of $6.34 and a fifty-two week high of $7.80. The firm has a fifty day moving average price of $7.48 and a two-hundred day moving average price of $7.48.

Franklin Universal Trust Announces Dividend

The business 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. This represents a $0.51 annualized dividend and a dividend yield of 6.68%. The ex-dividend date of this dividend was Tuesday, February 18th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in shares of Franklin Universal Trust during the 4th quarter worth approximately $614,000. Noble Wealth Management PBC acquired a new position in shares of Franklin Universal Trust during the 4th quarter worth approximately $212,000. Janney Montgomery Scott LLC increased its holdings in shares of Franklin Universal Trust by 22.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 118,611 shares of the financial services provider’s stock worth $867,000 after acquiring an additional 21,488 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Franklin Universal Trust by 6.6% during the 4th quarter. Stifel Financial Corp now owns 273,464 shares of the financial services provider’s stock worth $1,999,000 after acquiring an additional 16,882 shares during the last quarter. Finally, Bridgewealth Advisory Group LLC acquired a new position in shares of Franklin Universal Trust during the 4th quarter worth approximately $113,000.

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.