Northwestern Mutual Wealth Management Co. Has $2.36 Million Stock Holdings in Franklin Universal Trust $FT

Northwestern Mutual Wealth Management Co. increased its holdings in Franklin Universal Trust (NYSE:FT) by 58,962.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 295,314 shares of the financial services provider’s stock after purchasing an additional 294,814 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 1.18% of Franklin Universal Trust worth $2,363,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. increased its holdings in shares of Franklin Universal Trust by 2.3% during the second quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider’s stock worth $486,000 after buying an additional 1,455 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings 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 buying an additional 1,972 shares in the last quarter. Uncommon Cents Investing LLC increased its holdings in shares of Franklin Universal Trust by 1.5% during the fourth quarter. Uncommon Cents Investing LLC now owns 185,420 shares of the financial services provider’s stock worth $1,483,000 after buying an additional 2,758 shares in the last quarter. Noble Wealth Management PBC acquired a new stake in shares of Franklin Universal Trust during the fourth quarter worth approximately $32,000. Finally, Spire Wealth Management acquired a new stake in shares of Franklin Universal Trust during the fourth quarter worth approximately $40,000.

Franklin Universal Trust Stock Up 0.5%

NYSE FT opened at $8.09 on Wednesday. The company has a 50 day moving average of $8.11 and a 200-day moving average of $8.09. Franklin Universal Trust has a 1-year low of $7.37 and a 1-year high of $8.35.

Franklin Universal Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be issued a dividend of $0.0425 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) annualized dividend and a dividend yield of 6.3%.

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.