Franklin Wireless Corp. (NASDAQ:FKWL) Announces $0.04 Special Dividend

Franklin Wireless Corp. (NASDAQ:FKWL) declared a special dividend on Tuesday, November 4th. Shareholders of record on Friday, November 14th will be given a dividend of 0.04 per share on Tuesday, December 2nd. The ex-dividend date of this dividend is Friday, November 14th.

Franklin Wireless Trading Down 1.6%

Shares of NASDAQ FKWL traded down $0.08 during midday trading on Wednesday, reaching $5.06. The company’s stock had a trading volume of 8,679 shares, compared to its average volume of 30,718. The stock has a 50 day simple moving average of $4.52 and a 200-day simple moving average of $4.31. The stock has a market capitalization of $59.61 million, a price-to-earnings ratio of -253.00 and a beta of 0.45. Franklin Wireless has a fifty-two week low of $3.66 and a fifty-two week high of $7.45.

Franklin Wireless (NASDAQ:FKWL) last released its quarterly earnings data on Monday, September 29th. The company reported ($0.03) EPS for the quarter. Franklin Wireless had a negative net margin of 0.53% and a negative return on equity of 0.65%. The company had revenue of $6.93 million during the quarter.

Institutional Trading of Franklin Wireless

A number of large investors have recently bought and sold shares of the business. Evergreen Capital Management LLC bought a new stake in Franklin Wireless in the second quarter worth approximately $44,000. Goldman Sachs Group Inc. acquired a new position in shares of Franklin Wireless during the 1st quarter valued at $66,000. Acadian Asset Management LLC boosted its stake in Franklin Wireless by 175.5% during the first quarter. Acadian Asset Management LLC now owns 25,450 shares of the company’s stock worth $144,000 after acquiring an additional 16,211 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in Franklin Wireless in the first quarter worth $157,000. Finally, Ritholtz Wealth Management increased its stake in Franklin Wireless by 101.0% in the second quarter. Ritholtz Wealth Management now owns 34,762 shares of the company’s stock valued at $145,000 after purchasing an additional 17,466 shares in the last quarter. 18.49% of the stock is currently owned by institutional investors and hedge funds.

Franklin Wireless Company Profile

Franklin Wireless Corp. provides integrated wireless solutions. The company's products include 5G/4G wireless broadband products, such as wi-fi mobile hotspot, fixed wireless routers, and enterprise gateway CPE; and IoT tracking and connected devices, including smart IoT tracking device, connected car, and home phone connect.