Franklin Universal Trust (NYSE:FT) Stock Crosses Below Fifty Day Moving Average - Here's Why

Franklin Universal Trust (NYSE:FT - Get Free Report) passed 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 traded.

Franklin Universal Trust Stock Performance

The stock has a 50 day simple moving average of $7.54 and a two-hundred day simple moving average of $7.51.

Franklin Universal Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.0425 per share. This represents a $0.51 dividend on an annualized basis and a yield of 6.79%. The ex-dividend date is Monday, March 17th.

Hedge Funds Weigh In On Franklin Universal Trust

Several large investors have recently modified their holdings of FT. Raymond James Trust N.A. acquired a new position in shares of Franklin Universal Trust in the 3rd quarter valued at $79,000. Blue Bell Private Wealth Management LLC lifted its stake in shares of Franklin Universal Trust by 17.0% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 11,210 shares of the financial services provider's stock valued at $82,000 after purchasing an additional 1,632 shares during the last quarter. Arete Wealth Advisors LLC acquired a new position in shares of Franklin Universal Trust in the 3rd quarter valued at $88,000. Bridgewealth Advisory Group LLC acquired a new position in shares of Franklin Universal Trust in the 4th quarter valued at $113,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Franklin Universal Trust in the 4th quarter valued at $212,000.

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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.