Franklin Universal Trust (NYSE:FT) Stock Price Crosses Above Fifty Day Moving Average - Here's What Happened

Key Points

• Franklin Universal Trust (NYSE:FT) shares crossed above their 50-day moving average of $8.15 on Friday, trading as high as $8.22 and last at $8.1340 on a volume of 26,242 shares.
• The trust declared a monthly dividend of $0.0425 per share, with an ex-dividend and record date of March 24 and a payment date of March 31, implying an annualized yield of about 6.3%.
• Several institutional investors (including Raymond James, Invesco and Wells Fargo) modestly increased their positions, and the closed-end fund—managed by Franklin Templeton—primarily invests in senior secured floating-rate bank loans.

Franklin Universal Trust (NYSE:FT - Get Free Report) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $8.15 and traded as high as $8.22. Franklin Universal Trust shares last traded at $8.1340, with a volume of 26,242 shares trading hands.

Franklin Universal Trust Stock Performance

The company's 50 day moving average price is $8.15 and its 200-day moving average price is $8.04.

Franklin Universal Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be issued a dividend of $0.0425 per share. This represents a c) annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Tuesday, March 24th.

Institutional Trading of Franklin Universal Trust

Large investors have recently bought and sold shares of the company. Raymond James Financial Inc. raised its position in shares of Franklin Universal Trust by 2.3% in the second quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider's stock valued at $486,000 after purchasing an additional 1,455 shares during the period. Uncommon Cents Investing LLC boosted its holdings in Franklin Universal Trust by 0.9% in the 3rd quarter. Uncommon Cents Investing LLC now owns 182,662 shares of the financial services provider's stock worth $1,469,000 after buying an additional 1,647 shares during the period. Invesco Ltd. boosted its holdings in Franklin Universal Trust by 7.6% in the 4th quarter. Invesco Ltd. now owns 24,001 shares of the financial services provider's stock worth $192,000 after buying an additional 1,686 shares during the period. PNC Financial Services Group Inc. grew its stake in Franklin Universal Trust by 61.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,174 shares of the financial services provider's stock valued at $42,000 after buying an additional 1,972 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Franklin Universal Trust by 3.0% during the 4th quarter. Wells Fargo & Company MN now owns 109,700 shares of the financial services provider's stock valued at $878,000 after acquiring an additional 3,218 shares during the period.

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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