Franklin Universal Trust (NYSE:FT) Stock Passes Below Fifty Day Moving Average – Time to Sell?

Franklin Universal Trust (NYSE:FT) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $8.00 and traded as low as $7.84. Franklin Universal Trust shares last traded at $7.87, with a volume of 16,345 shares.

Franklin Universal Trust Stock Performance

The firm has a 50 day moving average of $8.00 and a two-hundred day moving average of $8.08.

Franklin Universal Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd will be issued a dividend of $0.0425 per share. The ex-dividend date is Wednesday, September 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%.

Institutional Investors Weigh In On Franklin Universal Trust

Several hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. grew its position in Franklin Universal Trust by 2.3% during the second quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider’s stock worth $486,000 after buying an additional 1,455 shares in the last quarter. Invesco Ltd. raised its holdings in Franklin Universal Trust by 7.6% in the 4th quarter. Invesco Ltd. now owns 24,001 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 1,686 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in 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 valued at $42,000 after acquiring an additional 1,972 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Franklin Universal Trust by 3.0% in the 4th quarter. Wells Fargo & Company MN now owns 109,700 shares of the financial services provider’s stock worth $878,000 after acquiring an additional 3,218 shares during the period. Finally, Harbour Investments Inc. lifted its position in shares of Franklin Universal Trust by 15.1% in the 4th quarter. Harbour Investments Inc. now owns 51,496 shares of the financial services provider’s stock worth $412,000 after acquiring an additional 6,750 shares during the period.

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.