Shaker Financial Services LLC Boosts Stock Position in Franklin Universal Trust (NYSE:FT)

Shaker Financial Services LLC raised its position in Franklin Universal Trust (NYSE:FT) by 27.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,188 shares of the financial services provider’s stock after purchasing an additional 11,042 shares during the period. Shaker Financial Services LLC owned about 0.20% of Franklin Universal Trust worth $374,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in Franklin Universal Trust in the 4th quarter worth about $614,000. Noble Wealth Management PBC acquired a new position in Franklin Universal Trust during the fourth quarter worth approximately $212,000. Janney Montgomery Scott LLC raised its stake in Franklin Universal Trust by 22.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 118,611 shares of the financial services provider’s stock worth $867,000 after purchasing an additional 21,488 shares during the period. Moloney Securities Asset Management LLC boosted its holdings in shares of Franklin Universal Trust by 1.9% in the 4th quarter. Moloney Securities Asset Management LLC now owns 673,296 shares of the financial services provider’s stock valued at $4,922,000 after purchasing an additional 12,380 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of Franklin Universal Trust by 0.3% during the 4th quarter. LPL Financial LLC now owns 652,535 shares of the financial services provider’s stock valued at $4,770,000 after buying an additional 2,245 shares during the period.

Franklin Universal Trust Stock Down 1.4 %

Shares of FT opened at $7.14 on Tuesday. The stock’s fifty day simple moving average is $7.43 and its 200 day simple moving average is $7.48. Franklin Universal Trust has a twelve month low of $6.49 and a twelve month high of $7.80.

Franklin Universal Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 17th 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 7.14%. The ex-dividend date is Thursday, April 17th.

Franklin Universal Trust Company Profile

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.