Franklin Universal Trust $FT Shares Sold by Ashton Thomas Securities LLC

Key Points

• Ashton Thomas Securities LLC significantly reduced its stake in Franklin Universal Trust by 71.7%, selling 38,400 shares and holding 15,150 shares worth approximately $115,000 by the end of Q2.
• In contrast, other hedge funds such as Cambridge Investment Research Advisors and Oppenheimer & Co. have increased their positions in Franklin Universal Trust, indicating varied institutional sentiment.
• Franklin Universal Trust recently announced a monthly dividend of $0.0425, representing an annualized yield of 6.4%.

Ashton Thomas Securities LLC lowered its holdings in Franklin Universal Trust (NYSE:FT - Free Report) by 71.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,150 shares of the financial services provider's stock after selling 38,400 shares during the period. Ashton Thomas Securities LLC owned approximately 0.06% of Franklin Universal Trust worth $115,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. grew its stake in shares of Franklin Universal Trust by 18.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,259 shares of the financial services provider's stock worth $160,000 after acquiring an additional 3,286 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in Franklin Universal Trust during the 1st quarter worth $81,000. Uncommon Cents Investing LLC grew its stake in 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 worth $1,330,000 after purchasing an additional 4,223 shares in the last quarter. MB Levis & Associates LLC purchased a new stake in Franklin Universal Trust during the 1st quarter worth about $77,000. Finally, Kovitz Investment Group Partners LLC acquired a new stake in Franklin Universal Trust in the 1st quarter valued at about $162,000.

Franklin Universal Trust Price Performance

Shares of Franklin Universal Trust stock opened at $8.00 on Friday. The business has a 50-day simple moving average of $7.92 and a 200-day simple moving average of $7.63. Franklin Universal Trust has a one year low of $6.71 and a one year high of $8.08.

Franklin Universal Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Thursday, September 18th were given a $0.0425 dividend. The ex-dividend date of this dividend was Thursday, September 18th. This represents a c) dividend on an annualized basis and a dividend 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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