Franklin Universal Trust (NYSE:FT) Stock Price Crosses Above Fifty Day Moving Average – What’s Next?

Franklin Universal Trust (NYSE:FT) shares crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $8.04 and traded as high as $8.13. Franklin Universal Trust shares last traded at $8.1050, with a volume of 32,277 shares changing hands.

Franklin Universal Trust Stock Up 0.1%

The company’s 50 day simple moving average is $8.04 and its 200 day simple moving average is $8.09.

Franklin Universal Trust Dividend Announcement

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

Institutional Investors Weigh In On Franklin Universal Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in FT. Goldman Sachs Group Inc. purchased a new position in Franklin Universal Trust during the first quarter worth about $117,000. Raymond James Financial Inc. increased its stake in shares of Franklin Universal Trust by 2.3% during the 2nd quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider’s stock valued at $486,000 after acquiring an additional 1,455 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Franklin Universal Trust during the 3rd quarter valued at about $343,000. PNC Financial Services Group Inc. lifted its holdings in shares of Franklin Universal Trust by 61.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,174 shares of the financial services provider’s stock worth $42,000 after acquiring an additional 1,972 shares during the period. Finally, Ameriprise Financial Inc. purchased a new position in shares of Franklin Universal Trust during the 3rd quarter worth about $133,000.

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.