Franklin Universal Trust (NYSE:FT) Short Interest Up 46.5% in March

Franklin Universal Trust (NYSE:FT) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 46,600 shares, a growth of 46.5% from the February 28th total of 31,800 shares. Based on an average daily volume of 43,000 shares, the short-interest ratio is currently 1.1 days. Currently, 0.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Bell Private Wealth Management LLC raised its position in shares of 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 buying an additional 1,632 shares in the last quarter. Arete Wealth Advisors LLC acquired a new position in Franklin Universal Trust in the 3rd quarter valued at $88,000. Bridgewealth Advisory Group LLC bought a new stake in shares of Franklin Universal Trust during the 4th quarter valued at $113,000. Noble Wealth Management PBC acquired a new stake in shares of Franklin Universal Trust during the 4th quarter worth $212,000. Finally, HighTower Advisors LLC increased its position in shares of Franklin Universal Trust by 4.9% in the third quarter. HighTower Advisors LLC now owns 28,804 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 1,354 shares during the period.

Franklin Universal Trust Stock Performance

Shares of FT traded up $0.03 during mid-day trading on Monday, reaching $7.53. The company’s stock had a trading volume of 45,825 shares, compared to its average volume of 43,548. Franklin Universal Trust has a 1-year low of $6.34 and a 1-year high of $7.80. The business has a 50-day simple moving average of $7.55 and a two-hundred day simple moving average of $7.52.

Franklin Universal Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.0425 per share. The ex-dividend date is Monday, March 17th. This represents a $0.51 annualized dividend and a yield of 6.78%.

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.