Hennion & Walsh Asset Management Inc. Cuts Holdings in Franklin Universal Trust $FT

Hennion & Walsh Asset Management Inc. lessened its stake in Franklin Universal Trust (NYSE:FT) by 39.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 128,340 shares of the financial services provider’s stock after selling 82,843 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Franklin Universal Trust were worth $1,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. increased its stake in shares of Franklin Universal Trust by 102.9% during the third quarter. Advisors Asset Management Inc. now owns 429,450 shares of the financial services provider’s stock worth $3,453,000 after buying an additional 217,780 shares during the period. Moloney Securities Asset Management LLC grew its holdings in Franklin Universal Trust by 1.2% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 691,160 shares of the financial services provider’s stock worth $5,557,000 after acquiring an additional 7,995 shares in the last quarter. CoreCap Advisors LLC increased its position in shares of Franklin Universal Trust by 535.6% in the 3rd quarter. CoreCap Advisors LLC now owns 27,109 shares of the financial services provider’s stock valued at $218,000 after purchasing an additional 22,844 shares during the last quarter. Uncommon Cents Investing LLC increased its position in shares of Franklin Universal Trust by 0.9% in the 3rd quarter. Uncommon Cents Investing LLC now owns 182,662 shares of the financial services provider’s stock valued at $1,469,000 after purchasing an additional 1,647 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Franklin Universal Trust by 2.3% in the 2nd quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 1,455 shares in the last quarter.

Franklin Universal Trust Stock Up 0.6%

Franklin Universal Trust stock opened at $8.15 on Friday. The company has a fifty day simple moving average of $8.14 and a 200-day simple moving average of $8.05. Franklin Universal Trust has a 12-month low of $6.71 and a 12-month high of $8.35.

Franklin Universal Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were paid a $0.0425 dividend. The ex-dividend date was Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 6.3%.

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.