Mid Atlantic Financial Management Inc. ADV Sells 6,783 Shares of Franklin Universal Trust (NYSE:FT)

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Mid Atlantic Financial Management Inc. ADV reduced its position in Franklin Universal Trust (NYSE:FT) by 13.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,128 shares of the financial services provider’s stock after selling 6,783 shares during the quarter. Mid Atlantic Financial Management Inc. ADV owned approximately 0.17% of Franklin Universal Trust worth $308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. NEXT Financial Group Inc grew its holdings in Franklin Universal Trust by 176.9% during the 2nd quarter. NEXT Financial Group Inc now owns 8,308 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 5,308 shares in the last quarter. SeaCrest Wealth Management LLC raised its holdings in Franklin Universal Trust by 52.1% during the second quarter. SeaCrest Wealth Management LLC now owns 21,536 shares of the financial services provider’s stock worth $158,000 after buying an additional 7,375 shares during the last quarter. Bank of America Corp DE raised its holdings in Franklin Universal Trust by 16.0% during the fourth quarter. Bank of America Corp DE now owns 25,140 shares of the financial services provider’s stock worth $160,000 after buying an additional 3,461 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. acquired a new position in Franklin Universal Trust during the first quarter worth $226,000. Finally, Advisor Group Inc. raised its holdings in Franklin Universal Trust by 52.5% during the second quarter. Advisor Group Inc. now owns 41,988 shares of the financial services provider’s stock worth $308,000 after buying an additional 14,463 shares during the last quarter. Institutional investors and hedge funds own 15.85% of the company’s stock.

FT opened at $7.36 on Wednesday. The company’s fifty day moving average price is $7.35 and its two-hundred day moving average price is $7.10. Franklin Universal Trust has a 1-year low of $6.05 and a 1-year high of $7.50.

The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.032 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.38 annualized dividend and a yield of 5.22%.

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.

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Institutional Ownership by Quarter for Franklin Universal Trust (NYSE:FT)

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