Raymond James Financial Inc. acquired a new stake in Franklin Universal Trust (NYSE:FT - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 84,011 shares of the financial services provider's stock, valued at approximately $614,000. Raymond James Financial Inc. owned approximately 0.33% of Franklin Universal Trust at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of FT. Blue Bell Private Wealth Management LLC increased its stake in Franklin Universal Trust by 17.0% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 11,210 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 1,632 shares during the last quarter. Noble Wealth Management PBC bought a new position in shares of Franklin Universal Trust in the 4th quarter valued at $212,000. Janney Montgomery Scott LLC lifted its position in shares of Franklin Universal Trust by 22.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 118,611 shares of the financial services provider's stock worth $867,000 after buying an additional 21,488 shares during the last quarter. Uncommon Cents Investing LLC boosted its stake in Franklin Universal Trust by 1.1% in the fourth quarter. Uncommon Cents Investing LLC now owns 172,402 shares of the financial services provider's stock valued at $1,260,000 after buying an additional 1,923 shares in the last quarter. Finally, LPL Financial LLC raised its stake in Franklin Universal Trust by 0.3% during the fourth quarter. LPL Financial LLC now owns 652,535 shares of the financial services provider's stock worth $4,770,000 after acquiring an additional 2,245 shares in the last quarter.
Franklin Universal Trust Price Performance
FT stock traded down $0.04 during trading on Tuesday, reaching $7.43. 7,564 shares of the company were exchanged, compared to its average volume of 43,263. Franklin Universal Trust has a twelve month low of $6.68 and a twelve month high of $7.80. The company has a 50-day moving average of $7.37 and a two-hundred day moving average of $7.46.
Franklin Universal Trust Announces Dividend
The firm also recently announced a monthly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be issued a dividend of $0.0425 per share. This represents a $0.51 dividend on an annualized basis and a yield of 6.86%. The ex-dividend date of this dividend is Monday, May 19th.
Franklin Universal Trust Profile
(
Free Report)
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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