Franklin Universal Trust Announces Monthly Dividend of $0.04 (NYSE:FT)

Franklin Universal Trust (NYSE:FT) announced a monthly dividend on Monday, April 13th. Stockholders of record on Thursday, April 23rd will be paid a dividend of 0.0425 per share by the financial services provider on Thursday, April 30th. This represents a c) annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Thursday, April 23rd.

Franklin Universal Trust Price Performance

Shares of Franklin Universal Trust stock opened at $8.24 on Tuesday. Franklin Universal Trust has a 52 week low of $7.11 and a 52 week high of $8.35. The business has a 50 day moving average price of $8.16 and a 200-day moving average price of $8.07.

Institutional Trading of Franklin Universal Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Noble Wealth Management PBC purchased a new stake in shares of Franklin Universal Trust in the fourth quarter worth approximately $32,000. Spire Wealth Management purchased a new stake in shares of Franklin Universal Trust during the fourth quarter valued at approximately $40,000. PNC Financial Services Group Inc. increased its position in shares of Franklin Universal Trust by 61.6% during the third quarter. PNC Financial Services Group Inc. now owns 5,174 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 1,972 shares during the last quarter. PMG Family Office LLC purchased a new stake in shares of Franklin Universal Trust during the third quarter valued at approximately $93,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Franklin Universal Trust during the first quarter valued at approximately $117,000.

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.