Franklin Universal Trust (NYSE:FT) Stock Passes Below 50 Day Moving Average – What’s Next?

Franklin Universal Trust (NYSE:FT) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $8.10 and traded as low as $7.94. Franklin Universal Trust shares last traded at $7.9550, with a volume of 33,632 shares changing hands.

Franklin Universal Trust Stock Performance

The company’s 50 day moving average price is $8.10 and its 200 day moving average price is $8.08.

Franklin Universal Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be paid a dividend of $0.0425 per share. This represents a c) annualized dividend and a dividend yield of 6.4%. The ex-dividend date of this dividend is Tuesday, June 23rd.

Institutional Trading of Franklin Universal Trust

Several hedge funds have recently modified their holdings of FT. Northwestern Mutual Wealth Management Co. grew its stake in shares of Franklin Universal Trust by 58,962.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 295,314 shares of the financial services provider’s stock valued at $2,363,000 after purchasing an additional 294,814 shares during the last quarter. Advisors Asset Management Inc. grew its stake in shares of Franklin Universal Trust by 60.5% during the fourth quarter. Advisors Asset Management Inc. now owns 689,053 shares of the financial services provider’s stock valued at $5,512,000 after purchasing an additional 259,603 shares during the last quarter. Evolve Private Wealth LLC bought a new stake in shares of Franklin Universal Trust during the fourth quarter valued at approximately $899,000. Commonwealth Equity Services LLC grew its stake 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 purchasing an additional 73,030 shares during the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in Franklin Universal Trust in the third quarter valued at approximately $343,000.

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.