Advisors Asset Management Inc. Buys 37,138 Shares of Franklin Universal Trust $FT

Key Points

• Advisors Asset Management Inc. increased its holdings in Franklin Universal Trust by 20.9%, acquiring an additional 37,138 shares to total 214,496 shares valued at approximately $1.615 million.
• Franklin Universal Trust recently announced a monthly dividend of $0.0425 per share, translating to an annualized yield of 6.4%.
• The stock is currently trading at $7.93, with a 52-week range between $6.71 and $8.07.

Advisors Asset Management Inc. lifted its holdings in shares of Franklin Universal Trust (NYSE:FT - Free Report) by 20.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 214,496 shares of the financial services provider's stock after purchasing an additional 37,138 shares during the period. Advisors Asset Management Inc. owned about 0.85% of Franklin Universal Trust worth $1,615,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Franklin Universal Trust by 18.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,259 shares of the financial services provider's stock valued at $160,000 after purchasing an additional 3,286 shares during the last quarter. Uncommon Cents Investing LLC grew its holdings in shares of Franklin Universal Trust by 2.4% during the 1st quarter. Uncommon Cents Investing LLC now owns 176,625 shares of the financial services provider's stock valued at $1,330,000 after purchasing an additional 4,223 shares during the last quarter. MB Levis & Associates LLC bought a new position in shares of Franklin Universal Trust during the 1st quarter valued at $77,000. Oppenheimer & Co. Inc. bought a new position in shares of Franklin Universal Trust during the 1st quarter valued at $81,000. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of Franklin Universal Trust during the 1st quarter valued at $162,000.

Franklin Universal Trust Stock Down 0.1%

FT stock opened at $7.93 on Monday. Franklin Universal Trust has a 52 week low of $6.71 and a 52 week high of $8.07. The firm's fifty day moving average is $7.84 and its 200 day moving average is $7.57.

Franklin Universal Trust Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a dividend of $0.0425 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a c) annualized dividend and a yield of 6.4%.

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.

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