Short Interest in Franklin Universal Trust (NYSE:FT) Rises By 16.7%

Franklin Universal Trust (NYSE:FT) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 41,900 shares, a growth of 16.7% from the October 31st total of 35,900 shares. Based on an average daily trading volume, of 43,600 shares, the short-interest ratio is currently 1.0 days.

Institutional Investors Weigh In On Franklin Universal Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of FT. Janney Montgomery Scott LLC grew its position in shares of Franklin Universal Trust by 2.0% during the third quarter. Janney Montgomery Scott LLC now owns 97,123 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 1,941 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in Franklin Universal Trust by 18.7% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 262,024 shares of the financial services provider’s stock valued at $1,784,000 after purchasing an additional 41,353 shares in the last quarter. Cetera Advisors LLC acquired a new stake in Franklin Universal Trust in the first quarter valued at about $514,000. Commonwealth Equity Services LLC grew its holdings in shares of Franklin Universal Trust by 654.4% during the second quarter. Commonwealth Equity Services LLC now owns 151,663 shares of the financial services provider’s stock worth $1,033,000 after buying an additional 131,558 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its position in Franklin Universal Trust by 3.7% during the second quarter. Wolverine Asset Management LLC now owns 145,638 shares of the financial services provider’s stock valued at $992,000 after acquiring an additional 5,192 shares during the period.

Franklin Universal Trust Trading Down 0.1 %

Shares of NYSE:FT traded down $0.01 during midday trading on Tuesday, reaching $7.70. 24,614 shares of the company were exchanged, compared to its average volume of 49,397. Franklin Universal Trust has a fifty-two week low of $6.34 and a fifty-two week high of $7.80. The stock has a fifty day simple moving average of $7.56 and a two-hundred day simple moving average of $7.21.

Franklin Universal Trust Announces Dividend

The firm also recently announced a monthly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were issued a $0.0425 dividend. The ex-dividend date was Monday, November 18th. This represents a $0.51 dividend on an annualized basis and a yield of 6.62%.

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.