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

Franklin Universal Trust (NYSE:FTGet Rating) was the target of a large decline in short interest in April. As of April 15th, there was short interest totalling 9,300 shares, a decline of 76.5% from the March 31st total of 39,600 shares. Based on an average daily volume of 53,300 shares, the days-to-cover ratio is presently 0.2 days.

Shares of NYSE:FT traded up $0.01 during trading hours on Thursday, hitting $7.71. The company’s stock had a trading volume of 29,924 shares, compared to its average volume of 71,998. Franklin Universal Trust has a 52 week low of $7.68 and a 52 week high of $8.79. The firm’s fifty day moving average price is $8.04 and its 200 day moving average price is $8.18.

The firm also recently declared a monthly dividend, which will be paid on Friday, April 29th. Stockholders of record on Monday, April 18th will be issued a $0.043 dividend. The ex-dividend date of this dividend is Thursday, April 14th. This represents a $0.52 annualized dividend and a dividend yield of 6.69%. This is a positive change from Franklin Universal Trust’s previous monthly dividend of $0.04.

Several large investors have recently bought and sold shares of the company. LPL Financial LLC grew its position in shares of Franklin Universal Trust by 2.4% in the 4th quarter. LPL Financial LLC now owns 73,044 shares of the financial services provider’s stock worth $618,000 after buying an additional 1,683 shares during the last quarter. Royal Bank of Canada grew its position in shares of Franklin Universal Trust by 3.0% in the 3rd quarter. Royal Bank of Canada now owns 79,060 shares of the financial services provider’s stock worth $641,000 after buying an additional 2,288 shares during the last quarter. Susquehanna International Group LLP grew its position in shares of Franklin Universal Trust by 23.2% in the 4th quarter. Susquehanna International Group LLP now owns 12,657 shares of the financial services provider’s stock worth $107,000 after buying an additional 2,387 shares during the last quarter. SeaCrest Wealth Management LLC grew its position in shares of Franklin Universal Trust by 16.7% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 18,429 shares of the financial services provider’s stock worth $149,000 after buying an additional 2,636 shares during the last quarter. Finally, Concourse Financial Group Securities Inc. purchased a new position in shares of Franklin Universal Trust in the 3rd quarter worth approximately $28,000.

About Franklin Universal Trust (Get Rating)

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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