Franklin Universal Trust (NYSE:FT – Get Free Report) declared a monthly dividend on Tuesday, July 14th. Investors of record on Monday, August 24th will be given a dividend of 0.0425 per share by the financial services provider on Monday, August 31st. This represents a c) annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Monday, August 24th.
Franklin Universal Trust Stock Down 0.4%
FT stock opened at $7.82 on Friday. The business’s 50-day moving average is $7.98 and its two-hundred day moving average is $8.07. Franklin Universal Trust has a 1 year low of $7.79 and a 1 year high of $8.35.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in FT. PNC Financial Services Group Inc. grew its stake 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 worth $42,000 after purchasing an additional 1,972 shares in the last quarter. Independent Financial Group LLC purchased a new position in shares of Franklin Universal Trust in the 1st quarter valued at about $99,000. Goldman Sachs Group Inc. purchased a new position in shares of Franklin Universal Trust in the 1st quarter valued at about $117,000. Ameriprise Financial Inc. acquired a new stake in shares of Franklin Universal Trust during the 3rd quarter worth about $133,000. Finally, Thoroughbred Financial Services LLC acquired a new stake in shares of Franklin Universal Trust during the 4th quarter worth about $176,000.
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.
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