Franklin Universal Trust (NYSE:FT) Stock Passes Below Fifty Day Moving Average – Time to Sell?

Shares of Franklin Universal Trust (NYSE:FT) passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $8.00 and traded as low as $7.84. Franklin Universal Trust shares last traded at $7.87, with a volume of 16,345 shares traded.

Franklin Universal Trust Trading Up 0.2%

The stock’s fifty day simple moving average is $7.99 and its two-hundred day simple moving average is $8.08.

Franklin Universal Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be paid a $0.0425 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a c) annualized dividend and a dividend yield of 6.5%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its holdings in 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 during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Franklin Universal Trust by 58,962.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 295,314 shares of the financial services provider’s stock worth $2,363,000 after acquiring an additional 294,814 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Franklin Universal Trust by 10.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 255,823 shares of the financial services provider’s stock worth $2,047,000 after acquiring an additional 23,630 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake 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 worth $1,936,000 after acquiring an additional 73,030 shares during the period. Finally, Evolve Private Wealth LLC acquired a new position in shares of Franklin Universal Trust in the fourth quarter worth approximately $899,000.

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.