Franklin Universal Trust (NYSE:FT) Stock Price Passes Below Fifty 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 $7.89 and traded as low as $7.51. Franklin Universal Trust shares last traded at $7.5610, with a volume of 72,308 shares.

Franklin Universal Trust Price Performance

The company has a fifty day simple moving average of $7.88 and a two-hundred day simple moving average of $8.02.

Franklin Universal Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be paid a $0.0425 dividend. This represents a c) dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend is Wednesday, September 23rd.

Hedge Funds Weigh In On Franklin Universal Trust

Several hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its holdings in shares of Franklin Universal Trust by 61.6% in the third quarter. PNC Financial Services Group Inc. now owns 5,174 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 1,972 shares in the last quarter. Independent Financial Group LLC purchased a new position in shares of Franklin Universal Trust during the 1st quarter worth approximately $99,000. Goldman Sachs Group Inc. acquired a new position in shares of Franklin Universal Trust during the 1st quarter worth approximately $117,000. Ameriprise Financial Inc. acquired a new position in shares of Franklin Universal Trust during the 3rd quarter worth approximately $133,000. Finally, Thoroughbred Financial Services LLC purchased a new stake in Franklin Universal Trust in the 4th quarter valued at approximately $176,000.

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.