Franklin Universal Trust (NYSE:FT) Stock Price Crosses Below Fifty Day Moving Average of $7.67

Franklin Universal Trust (NYSE:FTGet Rating) crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $7.67 and traded as low as $7.04. Franklin Universal Trust shares last traded at $7.15, with a volume of 57,463 shares.

The firm has a 50-day moving average of $7.67 and a two-hundred day moving average of $8.02.

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, June 30th. Investors of record on Friday, June 17th will be given a dividend of $0.0425 per share. The ex-dividend date is Thursday, June 16th. This represents a $0.51 annualized dividend and a dividend yield of 7.13%.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley increased its stake in Franklin Universal Trust by 1.1% during the second quarter. Morgan Stanley now owns 892,494 shares of the financial services provider’s stock valued at $7,390,000 after acquiring an additional 9,541 shares during the period. Royal Bank of Canada increased its stake in Franklin Universal Trust by 3.0% during the third quarter. Royal Bank of Canada now owns 79,060 shares of the financial services provider’s stock valued at $641,000 after acquiring an additional 2,288 shares during the period. LPL Financial LLC increased its stake in Franklin Universal Trust by 4.1% during the third quarter. LPL Financial LLC now owns 71,361 shares of the financial services provider’s stock valued at $579,000 after acquiring an additional 2,795 shares during the period. UBS Group AG increased its stake in Franklin Universal Trust by 10.9% during the third quarter. UBS Group AG now owns 70,566 shares of the financial services provider’s stock valued at $572,000 after acquiring an additional 6,926 shares during the period. Finally, SeaCrest Wealth Management LLC increased its stake in Franklin Universal Trust by 16.7% during the third quarter. SeaCrest Wealth Management LLC now owns 18,429 shares of the financial services provider’s stock valued at $149,000 after acquiring an additional 2,636 shares during the period.

About Franklin Universal Trust (NYSE:FT)

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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