Franklin Universal Trust (NYSE:FT) Stock Passes Below Fifty Day Moving Average – Here’s Why

Franklin Universal Trust (NYSE:FT) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $7.53 and traded as low as $7.52. Franklin Universal Trust shares last traded at $7.60, with a volume of 27,357 shares trading hands.

Franklin Universal Trust Price Performance

The company’s 50 day moving average price is $7.53 and its 200 day moving average price is $7.51.

Franklin Universal Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.0425 dividend. This represents a $0.51 annualized dividend and a dividend yield of 6.78%. The ex-dividend date is Monday, March 17th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Trust N.A. purchased a new position in shares of Franklin Universal Trust in the third quarter valued at approximately $79,000. Blue Bell Private Wealth Management LLC lifted its stake in Franklin Universal Trust by 17.0% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 11,210 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 1,632 shares during the last quarter. Arete Wealth Advisors LLC purchased a new position in Franklin Universal Trust in the third quarter worth approximately $88,000. Bridgewealth Advisory Group LLC purchased a new position in Franklin Universal Trust in the fourth quarter worth approximately $113,000. Finally, Noble Wealth Management PBC purchased a new position in Franklin Universal Trust in the fourth quarter worth approximately $212,000.

About Franklin Universal Trust

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.