Hennion & Walsh Asset Management Inc. Sells 64,071 Shares of Franklin Universal Trust (NYSE:FT)

Hennion & Walsh Asset Management Inc. reduced its holdings in shares of Franklin Universal Trust (NYSE:FT - Free Report) by 19.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 261,755 shares of the financial services provider's stock after selling 64,071 shares during the period. Hennion & Walsh Asset Management Inc. owned about 1.04% of Franklin Universal Trust worth $1,913,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Sanctuary Advisors LLC acquired a new stake in Franklin Universal Trust during the second quarter valued at approximately $843,000. Janney Montgomery Scott LLC lifted its position in shares of 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 worth $734,000 after buying an additional 1,941 shares during the period. Moloney Securities Asset Management LLC boosted its stake in Franklin Universal Trust by 1.1% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 660,916 shares of the financial services provider's stock valued at $4,997,000 after buying an additional 7,158 shares in the last quarter. Raymond James Trust N.A. bought a new stake in Franklin Universal Trust in the third quarter valued at $79,000. Finally, HighTower Advisors LLC raised its stake in Franklin Universal Trust by 4.9% during the third 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 in the last quarter.

Franklin Universal Trust Stock Up 0.6 %

Shares of NYSE FT traded up $0.05 during midday trading on Friday, reaching $7.58. 80,261 shares of the company traded hands, compared to its average volume of 40,594. The stock's 50-day simple moving average is $7.48 and its 200-day simple moving average is $7.34. Franklin Universal Trust has a 12 month low of $6.34 and a 12 month high of $7.80.

Franklin Universal Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 21st will be paid a $0.0425 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.73%. The ex-dividend date of this dividend is Tuesday, January 21st.

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.