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

Shares of Franklin Universal Trust (NYSE:FT) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $8.12 and traded as low as $7.88. Franklin Universal Trust shares last traded at $7.9390, with a volume of 70,131 shares traded.

Franklin Universal Trust Trading Down 0.1%

The firm has a 50-day moving average of $8.12 and a two-hundred day moving average of $8.09.

Franklin Universal Trust Announces Dividend

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

Hedge Funds Weigh In On Franklin Universal Trust

Several large investors have recently bought and sold shares of FT. Noble Wealth Management PBC bought a new position in Franklin Universal Trust in the fourth quarter valued at about $32,000. Spire Wealth Management bought a new position in Franklin Universal Trust in the fourth quarter valued at about $40,000. PNC Financial Services Group Inc. raised its position in Franklin Universal Trust by 61.6% in the third quarter. PNC Financial Services Group Inc. now owns 5,174 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 1,972 shares during the last quarter. PMG Family Office LLC acquired a new stake in shares of Franklin Universal Trust in the third quarter valued at about $93,000. Finally, Independent Financial Group LLC acquired a new stake in shares of Franklin Universal Trust in the first quarter valued at about $99,000.

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.