Franklin Universal Trust (NYSE:FT) Shares Pass Above 50-Day Moving Average - Here's What Happened

Shares of Franklin Universal Trust (NYSE:FT - Get Free Report) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $7.48 and traded as high as $7.54. Franklin Universal Trust shares last traded at $7.44, with a volume of 42,259 shares trading hands.

Franklin Universal Trust Stock Performance

The stock's fifty day moving average price is $7.48 and its two-hundred day moving average price is $7.37.

Franklin Universal Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 21st will be paid a $0.0425 dividend. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $0.51 annualized dividend and a dividend yield of 6.84%.

Institutional Trading of Franklin Universal Trust

Institutional investors and hedge funds have recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in Franklin Universal Trust by 4.9% during the 3rd quarter. HighTower Advisors LLC now owns 28,804 shares of the financial services provider's stock worth $218,000 after acquiring an additional 1,354 shares during the period. Stifel Financial Corp boosted its holdings in shares of Franklin Universal Trust by 4.5% in the third quarter. Stifel Financial Corp now owns 256,582 shares of the financial services provider's stock valued at $1,940,000 after purchasing an additional 11,047 shares during the period. Janney Montgomery Scott LLC raised its position in Franklin Universal Trust by 2.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 97,123 shares of the financial services provider's stock valued at $734,000 after purchasing an additional 1,941 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Franklin Universal Trust during the 2nd quarter worth $843,000. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of Franklin Universal Trust by 11.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 126,722 shares of the financial services provider's stock valued at $958,000 after purchasing an additional 13,494 shares in the last quarter.

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.