Franklin Universal Trust (NYSE:FT) Stock Crosses Above 50-Day Moving Average - What's Next?

Key Points

• Technical: Shares of Franklin Universal Trust (FT) crossed above its 50-day moving average ($8.16), trading as high as $8.28 and last at $8.23 on volume of 22,566 shares.
• Dividend: The trust declared a monthly dividend of $0.0425 per share payable June 30 with an ex-dividend/record date of June 23, implying an approximate annualized yield of 6.2%.
• Investor interest and strategy: Several institutional investors recently increased their stakes, and the closed-end fund—managed by Franklin Templeton—focuses on senior secured floating-rate bank loans for income and potential capital appreciation.

Shares of Franklin Universal Trust (NYSE:FT - Get Free Report) passed 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 Stock Up 0.2%

The company's fifty day moving average price is $8.16 and its 200 day moving average price is $8.08.

Franklin Universal Trust Dividend Announcement

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

Hedge Funds Weigh In On Franklin Universal Trust

Several institutional investors have recently added to or reduced their stakes in the stock. Moloney Securities Asset Management LLC grew its position in Franklin Universal Trust by 1.2% during the third quarter. Moloney Securities Asset Management LLC now owns 691,160 shares of the financial services provider's stock valued at $5,557,000 after buying an additional 7,995 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Franklin Universal Trust by 60.5% during the 4th quarter. Advisors Asset Management Inc. now owns 689,053 shares of the financial services provider's stock valued at $5,512,000 after buying an additional 259,603 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Franklin Universal Trust by 58,962.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 295,314 shares of the financial services provider's stock valued at $2,363,000 after buying an additional 294,814 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Franklin Universal Trust by 10.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 255,823 shares of the financial services provider's stock valued at $2,047,000 after buying an additional 23,630 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in shares of Franklin Universal Trust by 43.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 242,061 shares of the financial services provider's stock valued at $1,936,000 after buying an additional 73,030 shares during the last quarter.

About Franklin Universal Trust

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.

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