Franklin Universal Trust (NYSE:FT) Stock Passes Below Fifty Day Moving Average - Time to Sell?

Key Points

• Franklin Universal Trust shares fell below their 50-day moving average, trading as low as $7.51 versus the $7.89 average, and last changing hands at $7.5610.
• The trust declared a monthly dividend of $0.0425 per share, payable September 30 to shareholders of record September 23, representing a reported 6.7% yield.
• Institutional ownership increased, with several investment firms raising their positions during the fourth quarter, including Advisors Asset Management, Northwestern Mutual Wealth Management and Commonwealth Equity Services.

Shares of Franklin Universal Trust (NYSE:FT - Get Free Report) passed below its fifty day moving average during trading on Thursday . The stock has a fifty 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 changing hands.

Franklin Universal Trust Price Performance

The firm has a 50 day moving average price of $7.89 and a 200-day moving average price of $8.02.

Franklin Universal Trust Dividend Announcement

The company also recently declared 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. The ex-dividend date is Wednesday, September 23rd. This represents a c) dividend on an annualized basis and a yield of 6.7%.

Institutional Investors Weigh In On Franklin Universal Trust

Large investors have recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in Franklin Universal Trust by 60.5% in the fourth 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 in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Franklin Universal Trust by 58,962.8% in 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 acquiring an additional 294,814 shares during the last quarter. Janney Montgomery Scott LLC raised 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 worth $2,047,000 after acquiring an additional 23,630 shares in the last quarter. Commonwealth Equity Services LLC raised 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 worth $1,936,000 after acquiring an additional 73,030 shares in the last quarter. Finally, Evolve Private Wealth LLC purchased a new stake in Franklin Universal Trust during the fourth quarter worth approximately $899,000.

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.

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