Westchester Capital Management LLC Sells 25,000 Shares of Franklin Universal Trust (NYSE:FT)

Westchester Capital Management LLC trimmed its position in Franklin Universal Trust (NYSE:FT) by 13.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 159,920 shares of the financial services provider’s stock after selling 25,000 shares during the period. Westchester Capital Management LLC’s holdings in Franklin Universal Trust were worth $1,209,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FT. Moloney Securities Asset Management LLC increased its holdings in shares of Franklin Universal Trust by 1.1% during the third quarter. Moloney Securities Asset Management LLC now owns 660,916 shares of the financial services provider’s stock valued at $4,997,000 after acquiring an additional 7,158 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in shares of Franklin Universal Trust by 24.3% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 325,826 shares of the financial services provider’s stock valued at $2,463,000 after acquiring an additional 63,802 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in Franklin Universal Trust by 654.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 151,663 shares of the financial services provider’s stock worth $1,033,000 after acquiring an additional 131,558 shares during the last quarter. Wolverine Asset Management LLC lifted its position in Franklin Universal Trust by 3.7% in the 2nd quarter. Wolverine Asset Management LLC now owns 145,638 shares of the financial services provider’s stock valued at $992,000 after acquiring an additional 5,192 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in Franklin Universal Trust during the 2nd quarter valued at $843,000.

Franklin Universal Trust Price Performance

Franklin Universal Trust stock opened at $7.79 on Friday. Franklin Universal Trust has a 12 month low of $6.34 and a 12 month high of $7.80. The stock has a fifty day simple moving average of $7.55 and a two-hundred day simple moving average of $7.19.

Franklin Universal Trust Dividend Announcement

The business also recently declared a monthly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a dividend of $0.0425 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date was Monday, November 18th.

Franklin Universal Trust Company Profile

Franklin Universal Trust is a closed-ended balanced mutual fund launched by Franklin Resources, Inc The fund is managed by Franklin Advisers, Inc It invests in the public equity and fixed income markets of the United States. The fund invests in companies operating in utility sector. It employs fundamental analysis to invest in a diversified portfolio of corporate bonds and dividend paying utility stocks.