Franklin Universal Trust (NYSE:FT) Short Interest Down 78.2% in June

Franklin Universal Trust (NYSE:FT) was the target of a significant decrease in short interest in June. As of June 15th, there was short interest totalling 8,300 shares, a decrease of 78.2% from the May 31st total of 38,000 shares. Based on an average trading volume of 45,900 shares, the short-interest ratio is presently 0.2 days.

Hedge Funds Weigh In On Franklin Universal Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PFG Investments LLC bought a new stake in shares of Franklin Universal Trust during the 1st quarter worth approximately $85,000. Wolverine Asset Management LLC raised its position in Franklin Universal Trust by 4,159.1% during the fourth quarter. Wolverine Asset Management LLC now owns 70,829 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 69,166 shares in the last quarter. Cetera Advisors LLC bought a new stake in Franklin Universal Trust during the first quarter worth $514,000. Uncommon Cents Investing LLC raised its holdings in shares of Franklin Universal Trust by 4.2% during the 4th quarter. Uncommon Cents Investing LLC now owns 160,850 shares of the financial services provider’s stock worth $1,070,000 after buying an additional 6,510 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its position in shares of Franklin Universal Trust by 20.4% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 220,671 shares of the financial services provider’s stock worth $1,465,000 after buying an additional 37,408 shares during the last quarter.

Franklin Universal Trust Stock Performance

Shares of NYSE:FT traded up $0.06 on Thursday, reaching $6.82. 37,944 shares of the company’s stock were exchanged, compared to its average volume of 53,918. Franklin Universal Trust has a twelve month low of $5.97 and a twelve month high of $7.06. The company has a fifty day moving average of $6.76 and a 200-day moving average of $6.62.

Franklin Universal Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 18th will be given a dividend of $0.0425 per share. This represents a $0.51 dividend on an annualized basis and a yield of 7.48%. The ex-dividend date of this dividend is Tuesday, June 18th.

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.