Franklin Universal Trust (NYSE:FT) Sees Large Growth in Short Interest

Franklin Universal Trust (NYSE:FT) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 18,900 shares, an increase of 27.7% from the June 30th total of 14,800 shares. Based on an average daily trading volume, of 43,300 shares, the days-to-cover ratio is currently 0.4 days.

Franklin Universal Trust Stock Performance

NYSE:FT opened at $6.93 on Friday. Franklin Universal Trust has a 12-month low of $5.97 and a 12-month high of $7.06. The stock’s fifty day simple moving average is $6.84 and its 200-day simple moving average is $6.66.

Franklin Universal Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, July 31st. Investors of record on Thursday, July 18th will be issued a dividend of $0.0425 per share. This represents a $0.51 dividend on an annualized basis and a yield of 7.36%. The ex-dividend date of this dividend is Thursday, July 18th.

Institutional Investors Weigh In On Franklin Universal Trust

Several large investors have recently bought and sold shares of the company. Koshinski Asset Management Inc. raised its stake in Franklin Universal Trust by 48.0% during the 4th quarter. Koshinski Asset Management Inc. now owns 543,700 shares of the financial services provider’s stock worth $3,616,000 after buying an additional 176,355 shares during the period. Wolverine Asset Management LLC increased its holdings in shares of Franklin Universal Trust by 4,159.1% in the fourth quarter. Wolverine Asset Management LLC now owns 70,829 shares of the financial services provider’s stock worth $471,000 after acquiring an additional 69,166 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its position in shares of Franklin Universal Trust by 20.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 220,671 shares of the financial services provider’s stock worth $1,465,000 after purchasing an additional 37,408 shares during the period. Uncommon Cents Investing LLC lifted its holdings in shares of Franklin Universal Trust by 2.4% during the 1st quarter. Uncommon Cents Investing LLC now owns 164,674 shares of the financial services provider’s stock valued at $1,093,000 after purchasing an additional 3,824 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new position in shares of Franklin Universal Trust in the 1st quarter valued at approximately $514,000.

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.