Franklin Universal Trust (NYSE:FT) Stock Price Passes Above 50-Day Moving Average – Should You Sell?

Shares of Franklin Universal Trust (NYSE:FT) 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 traded.

Franklin Universal Trust Stock Performance

The firm’s 50-day simple moving average is $7.48 and its 200-day simple moving average is $7.37.

Franklin Universal Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 21st will be issued a dividend of $0.0425 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.85%. The ex-dividend date is Tuesday, January 21st.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Raymond James Trust N.A. bought a new stake in Franklin Universal Trust during the third quarter worth about $79,000. Arete Wealth Advisors LLC purchased a new stake in Franklin Universal Trust in the third quarter worth approximately $88,000. HighTower Advisors LLC grew its position 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 valued at $218,000 after acquiring an additional 1,354 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Franklin Universal Trust by 2.0% during the third quarter. Janney Montgomery Scott LLC now owns 97,123 shares of the financial services provider’s stock worth $734,000 after acquiring an additional 1,941 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Franklin Universal Trust in the 2nd quarter worth approximately $843,000.

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.