Franklin Universal Trust (NYSE:FT) Short Interest Down 71.4% in December

Franklin Universal Trust (NYSE:FT) was the target of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 10,200 shares, a decrease of 71.4% from the December 15th total of 35,700 shares. Based on an average daily volume of 42,000 shares, the days-to-cover ratio is currently 0.2 days.

Franklin Universal Trust Stock Performance

Franklin Universal Trust stock traded down $0.03 during mid-day trading on Monday, hitting $7.25. 33,191 shares of the company’s stock were exchanged, compared to its average volume of 51,042. Franklin Universal Trust has a fifty-two week low of $6.34 and a fifty-two week high of $7.80. The company’s 50 day simple moving average is $7.49 and its 200-day simple moving average is $7.33.

Franklin Universal Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 21st will be given a dividend of $0.0425 per share. This represents a $0.51 annualized dividend and a dividend yield of 7.03%. The ex-dividend date is Tuesday, January 21st.

Hedge Funds Weigh In On Franklin Universal Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FT. Arete Wealth Advisors LLC acquired a new position in Franklin Universal Trust during the 3rd quarter worth approximately $88,000. Stifel Financial Corp lifted its position in shares of Franklin Universal Trust by 4.5% in the third quarter. Stifel Financial Corp now owns 256,582 shares of the financial services provider’s stock worth $1,940,000 after purchasing an additional 11,047 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Franklin Universal Trust by 11.9% during the third quarter. Integrated Wealth Concepts LLC now owns 126,722 shares of the financial services provider’s stock worth $958,000 after purchasing an additional 13,494 shares during the last quarter. HighTower Advisors LLC grew its position in Franklin Universal Trust by 4.9% in the third quarter. HighTower Advisors LLC now owns 28,804 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 1,354 shares in the last quarter. Finally, Raymond James Trust N.A. acquired a new stake in Franklin Universal Trust in the 3rd quarter valued at $79,000.

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.