Franklin Universal Trust (NYSE:FT) Short Interest Down 33.0% in May

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

Franklin Universal Trust Stock Performance

FT traded down $0.01 during trading on Tuesday, hitting $7.47. The stock had a trading volume of 5,560 shares, compared to its average volume of 42,486. The company’s 50-day moving average price is $7.39 and its 200 day moving average price is $7.45. Franklin Universal Trust has a twelve month low of $6.68 and a twelve month high of $7.80.

Franklin Universal Trust Dividend Announcement

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

Hedge Funds Weigh In On Franklin Universal Trust

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. acquired a new stake in Franklin Universal Trust during the 1st quarter valued at $117,000. Advisors Asset Management Inc. raised its holdings in shares of Franklin Universal Trust by 20.9% during the first quarter. Advisors Asset Management Inc. now owns 214,496 shares of the financial services provider’s stock valued at $1,615,000 after buying an additional 37,138 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of Franklin Universal Trust during the first quarter valued at $162,000. MB Levis & Associates LLC acquired a new stake in shares of Franklin Universal Trust in the 1st quarter worth approximately $77,000. Finally, Uncommon Cents Investing LLC raised its stake in shares of Franklin Universal Trust by 2.4% in the 1st quarter. Uncommon Cents Investing LLC now owns 176,625 shares of the financial services provider’s stock worth $1,330,000 after buying an additional 4,223 shares in the last quarter.

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.