Short Interest in Franklin Universal Trust (NYSE:FT) Drops By 33.0%

Franklin Universal Trust (NYSE:FT - Get Free Report) saw a large decline in short interest in May. As of May 31st, there was short interest totalling 12,200 shares, a decline of 33.0% from the May 15th total of 18,200 shares. Based on an average daily trading volume, of 39,400 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. MB Levis & Associates LLC acquired a new stake in Franklin Universal Trust in the first quarter valued at about $77,000. Oppenheimer & Co. Inc. acquired a new position in Franklin Universal Trust in the 1st quarter valued at about $81,000. Blue Bell Private Wealth Management LLC boosted its position in Franklin Universal Trust by 17.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 11,210 shares of the financial services provider's stock worth $82,000 after acquiring an additional 1,632 shares during the last quarter. Bridgewealth Advisory Group LLC acquired a new stake in shares of Franklin Universal Trust during the fourth quarter worth $113,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Franklin Universal Trust in the 1st quarter worth about $117,000.

Franklin Universal Trust Stock Down 0.1%

NYSE FT traded down $0.01 during trading hours on Tuesday, hitting $7.46. 19,538 shares of the company's stock traded hands, compared to its average volume of 42,571. Franklin Universal Trust has a 52-week low of $6.68 and a 52-week high of $7.80. The firm's 50-day moving average is $7.39 and its 200-day moving average is $7.45.

Franklin Universal Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be paid a $0.0425 dividend. This represents a $0.51 annualized dividend and a dividend yield of 6.84%. The ex-dividend date of this dividend is Monday, June 16th.

Franklin Universal Trust Company Profile

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.