Short Interest in Franklin Universal Trust (NYSE:FT) Drops By 33.0%

Franklin Universal Trust (NYSE:FT) saw a significant decline in short interest in May. As of May 31st, there was short interest totalling 12,200 shares, a decline of 33.0% from the May 15th total of 18,200 shares. Based on an average daily volume of 39,400 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Investors Weigh In On Franklin Universal Trust

Hedge funds have recently made changes to their positions in the company. MB Levis & Associates LLC acquired a new stake in shares of Franklin Universal Trust during the first quarter worth about $77,000. Oppenheimer & Co. Inc. acquired a new position in shares of Franklin Universal Trust during the 1st quarter valued at about $81,000. Blue Bell Private Wealth Management LLC raised its position in shares of Franklin Universal Trust by 17.0% during 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 buying an additional 1,632 shares during the period. Bridgewealth Advisory Group LLC acquired a new stake in shares of Franklin Universal Trust during the 4th quarter worth about $113,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Franklin Universal Trust in the 1st quarter valued at approximately $117,000.

Franklin Universal Trust Stock Down 0.1%

Shares of FT traded down $0.01 during trading hours on Tuesday, reaching $7.47. 5,560 shares of the stock traded hands, compared to its average volume of 42,486. The company’s 50-day moving average price is $7.39 and its two-hundred day moving average price is $7.45. Franklin Universal Trust has a 52-week low of $6.68 and a 52-week high of $7.80.

Franklin Universal Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a $0.0425 dividend. This represents a $0.51 annualized dividend and a yield of 6.83%. The ex-dividend date is Monday, June 16th.

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.