Franklin Universal Trust (NYSE:FT) Shares Down 0.6% – Here’s Why

Shares of Franklin Universal Trust (NYSE:FT) fell 0.6% on Monday . The stock traded as low as $7.95 and last traded at $7.9550. 60,080 shares were traded during mid-day trading, an increase of 34% from the average session volume of 44,712 shares. The stock had previously closed at $8.00.

Franklin Universal Trust Price Performance

The company has a 50-day moving average price of $8.02 and a two-hundred day moving average price of $7.85.

Franklin Universal Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be given a dividend of $0.0425 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) annualized dividend and a dividend yield of 6.4%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Kovitz Investment Group Partners LLC acquired a new stake in Franklin Universal Trust in the first quarter worth $162,000. Advisors Asset Management Inc. boosted its position in shares of Franklin Universal Trust by 20.9% during the 1st quarter. Advisors Asset Management Inc. now owns 214,496 shares of the financial services provider’s stock worth $1,615,000 after purchasing an additional 37,138 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in Franklin Universal Trust in the 1st quarter valued at about $117,000. Uncommon Cents Investing LLC raised its stake in Franklin Universal Trust by 2.5% during the 2nd quarter. Uncommon Cents Investing LLC now owns 181,015 shares of the financial services provider’s stock worth $1,379,000 after buying an additional 4,390 shares during the period. Finally, Clear Creek Financial Management LLC boosted its holdings in Franklin Universal Trust by 11.3% in the second quarter. Clear Creek Financial Management LLC now owns 29,453 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 3,000 shares in the last quarter.

Franklin Universal Trust Company Profile

Franklin Universal Trust is a closed-ended balanced mutual fund launched by Franklin Resources, Inc The fund is managed by Franklin Advisers, Inc It invests in the public equity and fixed income markets of the United States. The fund invests in companies operating in utility sector. It employs fundamental analysis to invest in a diversified portfolio of corporate bonds and dividend paying utility stocks.