Franklin Universal Trust (NYSE:FT) Share Price Passes Below 50 Day Moving Average – What’s Next?

Franklin Universal Trust (NYSE:FTGet Free Report)’s share price crossed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $8.10 and traded as low as $7.94. Franklin Universal Trust shares last traded at $7.9550, with a volume of 33,632 shares trading hands.

Franklin Universal Trust Stock Performance

The firm has a 50-day moving average price of $8.10 and a 200-day moving average price of $8.09.

Franklin Universal Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.0425 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend is Tuesday, June 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FT. 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. 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. Evolve Private Wealth LLC bought a new stake in shares of Franklin Universal Trust in the fourth quarter valued at approximately $899,000. Commonwealth Equity Services LLC raised its position in shares of Franklin Universal Trust by 43.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 242,061 shares of the financial services provider’s stock valued at $1,936,000 after purchasing an additional 73,030 shares during the period. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Franklin Universal Trust in the third quarter valued at approximately $343,000.

About Franklin Universal Trust

(Get Free Report)

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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