Franklin Universal Trust (NYSE:FT) Stock Price Crosses Above 50-Day Moving Average – Here’s Why

Franklin Universal Trust (NYSE:FT) crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $8.16 and traded as high as $8.28. Franklin Universal Trust shares last traded at $8.23, with a volume of 22,566 shares changing hands.

Franklin Universal Trust Trading Up 0.2%

The firm’s 50-day moving average price is $8.16 and its 200-day moving average price is $8.08.

Franklin Universal Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be given a $0.0425 dividend. This represents a c) dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend is Tuesday, June 23rd.

Institutional Trading of Franklin Universal Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC raised its position in Franklin Universal Trust by 1.2% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 691,160 shares of the financial services provider’s stock worth $5,557,000 after purchasing an additional 7,995 shares during the period. Advisors Asset Management Inc. raised its position in 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 purchasing an additional 259,603 shares during the period. 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 raised its position in Franklin Universal Trust by 10.2% in the 4th 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 period. Finally, Commonwealth Equity Services LLC raised its position in Franklin Universal Trust by 43.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 242,061 shares of the financial services provider’s stock worth $1,936,000 after purchasing an additional 73,030 shares during the period.

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.