Northwestern Mutual Wealth Management Co. Buys 294,814 Shares of Franklin Universal Trust $FT

Northwestern Mutual Wealth Management Co. increased its stake in shares of Franklin Universal Trust (NYSE:FT) by 58,962.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 295,314 shares of the financial services provider’s stock after acquiring an additional 294,814 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Franklin Universal Trust were worth $2,363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in Franklin Universal Trust by 102.9% in the third quarter. Advisors Asset Management Inc. now owns 429,450 shares of the financial services provider’s stock valued at $3,453,000 after acquiring an additional 217,780 shares during the last quarter. Moloney Securities Asset Management LLC boosted its stake in Franklin Universal Trust by 1.2% in the third quarter. Moloney Securities Asset Management LLC now owns 691,160 shares of the financial services provider’s stock valued at $5,557,000 after acquiring an additional 7,995 shares during the last quarter. Raymond James Financial Inc. boosted its stake in Franklin Universal Trust by 2.3% in the second quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider’s stock valued at $486,000 after acquiring an additional 1,455 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in Franklin Universal Trust in the third quarter valued at approximately $343,000. Finally, Elevation Point Wealth Partners LLC bought a new position in Franklin Universal Trust in the third quarter valued at approximately $197,000.

Franklin Universal Trust Stock Up 0.5%

Shares of FT stock opened at $8.09 on Wednesday. Franklin Universal Trust has a 52-week low of $7.37 and a 52-week high of $8.35. The firm’s 50 day moving average price is $8.11 and its two-hundred day moving average price is $8.09.

Franklin Universal Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be given a dividend of $0.0425 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Tuesday, June 23rd.

Franklin Universal Trust 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.