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

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

Institutional Trading of Franklin Universal Trust

Several large investors have recently modified their holdings of FT. Goldman Sachs Group Inc. bought a new stake in Franklin Universal Trust during the first quarter worth about $117,000. Advisors Asset Management Inc. raised its position in shares of Franklin Universal Trust by 20.9% in the 1st quarter. Advisors Asset Management Inc. now owns 214,496 shares of the financial services provider's stock valued at $1,615,000 after buying an additional 37,138 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Franklin Universal Trust during the 1st quarter worth approximately $162,000. MB Levis & Associates LLC acquired a new stake in shares of Franklin Universal Trust during the 1st quarter worth approximately $77,000. Finally, Uncommon Cents Investing LLC increased its stake in 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 last quarter.

Franklin Universal Trust Price Performance

NYSE:FT traded up $0.01 during mid-day trading on Friday, reaching $7.44. 30,382 shares of the company's stock were exchanged, compared to its average volume of 27,752. Franklin Universal Trust has a one year low of $6.71 and a one year high of $7.80. The business's fifty day simple moving average is $7.41 and its two-hundred day simple moving average is $7.45.

Franklin Universal Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.0425 per share. The ex-dividend date is Monday, June 16th. This represents a $0.51 dividend on an annualized basis and a yield of 6.85%.

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.