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

Franklin Universal Trust (NYSE:FT - Get Free Report) was the target of a significant increase in short interest in 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. Currently, 0.2% of the company's stock are sold short. Based on an average daily trading volume, of 42,800 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Investors Weigh In On Franklin Universal Trust

Large investors have recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC raised its holdings in Franklin Universal Trust by 17.0% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 11,210 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 1,632 shares in the last quarter. Uncommon Cents Investing LLC increased its position in shares of Franklin Universal Trust by 1.1% in the 4th quarter. Uncommon Cents Investing LLC now owns 172,402 shares of the financial services provider's stock worth $1,260,000 after purchasing an additional 1,923 shares during the last quarter. LPL Financial LLC raised its stake in shares of Franklin Universal Trust by 0.3% in the 4th quarter. LPL Financial LLC now owns 652,535 shares of the financial services provider's stock valued at $4,770,000 after purchasing an additional 2,245 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of 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 worth $160,000 after purchasing an additional 3,286 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in shares of Franklin Universal Trust during the first quarter worth about $81,000.

Franklin Universal Trust Stock Performance

Shares of NYSE:FT traded up $0.06 during mid-day trading on Friday, hitting $7.47. 27,491 shares of the company traded hands, compared to its average volume of 43,810. Franklin Universal Trust has a 52-week low of $6.68 and a 52-week high of $7.80. The firm's 50 day simple moving average is $7.39 and its 200 day simple moving average is $7.47.

Franklin Universal Trust Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th were paid a $0.0425 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $0.51 annualized dividend and a dividend yield of 6.83%.

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.