Franklin Universal Trust (NYSE:FT) Stock Passes Below Fifty Day Moving Average – What’s Next?

Franklin Universal Trust (NYSE:FT) shares 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.

Franklin Universal Trust Stock Performance

The stock’s fifty day simple moving average is $8.10 and its 200-day simple moving average is $8.09.

Franklin Universal Trust Dividend Announcement

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

Hedge Funds Weigh In On Franklin Universal Trust

A number of hedge funds have recently bought and sold shares of the company. 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 worth $2,363,000 after buying an additional 294,814 shares in 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 worth $5,512,000 after buying an additional 259,603 shares in the last quarter. Evolve Private Wealth LLC bought a new position in shares of Franklin Universal Trust during the 4th quarter worth approximately $899,000. Commonwealth Equity Services LLC lifted its position in shares of Franklin Universal Trust by 43.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 242,061 shares of the financial services provider’s stock worth $1,936,000 after buying an additional 73,030 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in shares of Franklin Universal Trust during the 3rd quarter worth approximately $343,000.

Franklin Universal Trust Company Profile

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.