Franklin Universal Trust (NYSE:FT) Share Price Passes Below 50-Day Moving Average – Should You Sell?

Franklin Universal Trust (NYSE:FT) shares crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $8.02 and traded as low as $7.89. Franklin Universal Trust shares last traded at $7.90, with a volume of 35,563 shares changing hands.

Franklin Universal Trust Price Performance

The company has a 50-day simple moving average of $8.02 and a 200 day simple moving average of $8.10.

Franklin Universal Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 23rd will be issued a $0.0425 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%.

Institutional Investors Weigh In On Franklin Universal Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Independent Financial Group LLC purchased a new stake in Franklin Universal Trust in the 1st quarter valued at about $99,000. Invesco Ltd. increased its position in shares of Franklin Universal Trust by 7.6% during 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 period. Evolve Private Wealth LLC bought a new stake in shares of Franklin Universal Trust during the fourth quarter valued at approximately $899,000. Cetera Investment Advisers raised its stake in shares of Franklin Universal Trust by 10.5% during the fourth quarter. Cetera Investment Advisers now owns 108,336 shares of the financial services provider’s stock valued at $867,000 after acquiring an additional 10,297 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its holdings in shares of Franklin Universal Trust by 3.0% in the fourth quarter. Wells Fargo & Company MN now owns 109,700 shares of the financial services provider’s stock valued at $878,000 after purchasing an additional 3,218 shares during the period.

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.