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

Franklin Universal Trust (NYSE:FT - Get Free Report) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 35,200 shares, an increase of 86.2% from the March 31st total of 18,900 shares. Based on an average trading volume of 42,800 shares, the days-to-cover ratio is currently 0.8 days. Approximately 0.2% of the company's shares are short sold.

Hedge Funds Weigh In On Franklin Universal Trust

Several hedge funds have recently modified their holdings of the stock. Uncommon Cents Investing LLC boosted its position in shares of Franklin Universal Trust by 2.4% in the first quarter. Uncommon Cents Investing LLC now owns 176,625 shares of the financial services provider's stock valued at $1,330,000 after acquiring an additional 4,223 shares during the period. Oppenheimer & Co. Inc. acquired a new stake in shares of Franklin Universal Trust in the first quarter valued at about $81,000. Cambridge Investment Research Advisors Inc. boosted its position in Franklin Universal Trust by 18.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,259 shares of the financial services provider's stock valued at $160,000 after acquiring an additional 3,286 shares during the last quarter. Bridgewealth Advisory Group LLC acquired a new stake in shares of Franklin Universal Trust during the 4th quarter worth approximately $113,000. Finally, Stifel Financial Corp boosted its holdings in Franklin Universal Trust by 6.6% in the fourth quarter. Stifel Financial Corp now owns 273,464 shares of the financial services provider's stock worth $1,999,000 after acquiring an additional 16,882 shares in the last quarter.

Franklin Universal Trust Price Performance

FT traded up $0.03 during midday trading on Tuesday, reaching $7.39. 12,348 shares of the company were exchanged, compared to its average volume of 43,948. Franklin Universal Trust has a one year low of $6.52 and a one year high of $7.80. The stock's 50-day simple moving average is $7.40 and its 200 day simple moving average is $7.47.

Franklin Universal Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th will be given a dividend of $0.0425 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.51 annualized dividend and a dividend yield of 6.90%.

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.

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