Franklin Universal Trust (NYSE:FT) Stock Passes Below 50 Day Moving Average – Here’s Why

Franklin Universal Trust (NYSE:FT)’s stock price crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $8.02 and traded as low as $7.89. Franklin Universal Trust shares last traded at $7.90, with a volume of 35,563 shares trading hands.

Franklin Universal Trust Stock Down 0.3%

The stock has a fifty day moving average price of $8.02 and a 200 day moving average price of $8.10.

Franklin Universal Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd will be paid a dividend of $0.0425 per share. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Wednesday, September 23rd.

Institutional Investors Weigh In On Franklin Universal Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its holdings in shares of Franklin Universal Trust by 60.5% in the 4th quarter. Advisors Asset Management Inc. now owns 689,053 shares of the financial services provider’s stock worth $5,512,000 after acquiring an additional 259,603 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Franklin Universal Trust by 58,962.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 295,314 shares of the financial services provider’s stock worth $2,363,000 after purchasing an additional 294,814 shares during the period. Janney Montgomery Scott LLC lifted its stake in Franklin Universal Trust by 10.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 255,823 shares of the financial services provider’s stock worth $2,047,000 after purchasing an additional 23,630 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Franklin Universal Trust by 43.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 242,061 shares of the financial services provider’s stock valued at $1,936,000 after buying an additional 73,030 shares during the period. Finally, Evolve Private Wealth LLC bought a new position in shares of Franklin Universal Trust during the fourth quarter valued at approximately $899,000.

About Franklin Universal Trust

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.