Franklin Universal Trust (FT) to Issue Monthly Dividend of $0.04 on July 31st

Franklin Universal Trust (NYSE:FT) declared a monthly dividend on Tuesday, July 14th. Shareholders of record on Friday, July 24th will be given a dividend of 0.0425 per share by the financial services provider on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Friday, July 24th.

Franklin Universal Trust Stock Up 0.4%

Franklin Universal Trust stock opened at $8.04 on Wednesday. Franklin Universal Trust has a 12-month low of $7.73 and a 12-month high of $8.35. The stock has a 50-day simple moving average of $8.03 and a 200 day simple moving average of $8.10.

Hedge Funds Weigh In On Franklin Universal Trust

Several large investors have recently made changes to their positions in the company. Spire Wealth Management acquired a new position in Franklin Universal Trust during the 4th quarter valued at about $40,000. PNC Financial Services Group Inc. boosted its position in shares of Franklin Universal Trust by 61.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,174 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 1,972 shares during the last quarter. Independent Financial Group LLC bought a new stake in Franklin Universal Trust in the first quarter valued at about $99,000. Goldman Sachs Group Inc. bought a new position in Franklin Universal Trust during the first quarter worth about $117,000. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Franklin Universal Trust in the 3rd quarter valued at approximately $133,000.

Franklin Universal Trust Company Profile

Franklin Universal Trust (NYSE: FT) is a closed-end management investment company organized under Maryland law and managed by Franklin Templeton. The trust seeks to provide a high level of current income with a secondary objective of capital appreciation. It issues common shares that trade on the New York Stock Exchange, offering investors access to a diversified portfolio of income-oriented credit instruments.

The fund’s core strategy focuses on senior secured floating-rate bank loans, which typically adjust their interest rates in line with market benchmarks.