Franklin Universal Trust (NYSE:FT) Stock Crosses Below 50-Day Moving Average – Should You Sell?

Franklin Universal Trust (NYSE:FT)’s share price passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $8.17 and traded as low as $8.11. Franklin Universal Trust shares last traded at $8.1850, with a volume of 24,816 shares changing hands.

Franklin Universal Trust Price Performance

The business has a 50-day moving average price of $8.17 and a two-hundred day moving average price of $8.08.

Franklin Universal Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be issued a dividend of $0.0425 per share. This represents a c) annualized dividend and a yield of 6.2%. The ex-dividend date is Tuesday, June 23rd.

Institutional Trading of Franklin Universal Trust

Several large investors have recently modified their holdings of FT. Raymond James Financial Inc. raised its position 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 worth $486,000 after purchasing an additional 1,455 shares during the last quarter. Uncommon Cents Investing LLC increased its position in Franklin Universal Trust by 0.9% during the third quarter. Uncommon Cents Investing LLC now owns 182,662 shares of the financial services provider’s stock worth $1,469,000 after buying an additional 1,647 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Franklin Universal Trust by 7.6% in the fourth quarter. Invesco Ltd. now owns 24,001 shares of the financial services provider’s stock worth $192,000 after acquiring an additional 1,686 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of 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 acquiring an additional 1,972 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Franklin Universal Trust by 3.0% during the fourth quarter. Wells Fargo & Company MN now owns 109,700 shares of the financial services provider’s stock valued at $878,000 after acquiring an additional 3,218 shares during the last quarter.

About Franklin Universal Trust

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.