Hennion & Walsh Asset Management Inc. Raises Position in Franklin Universal Trust (NYSE:FT)

Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Franklin Universal Trust (NYSE:FT) by 24.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 325,826 shares of the financial services provider’s stock after buying an additional 63,802 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Franklin Universal Trust were worth $2,463,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cetera Advisors LLC acquired a new stake in shares of Franklin Universal Trust during the first quarter worth $514,000. Commonwealth Equity Services LLC raised its stake in Franklin Universal Trust by 654.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 151,663 shares of the financial services provider’s stock worth $1,033,000 after acquiring an additional 131,558 shares during the last quarter. Wolverine Asset Management LLC lifted its position in Franklin Universal Trust by 3.7% during the 2nd quarter. Wolverine Asset Management LLC now owns 145,638 shares of the financial services provider’s stock worth $992,000 after acquiring an additional 5,192 shares during the period. Sanctuary Advisors LLC purchased a new stake in Franklin Universal Trust during the 2nd quarter valued at about $843,000. Finally, Uncommon Cents Investing LLC increased its holdings in shares of Franklin Universal Trust by 2.4% in the first quarter. Uncommon Cents Investing LLC now owns 164,674 shares of the financial services provider’s stock valued at $1,093,000 after purchasing an additional 3,824 shares during the period.

Franklin Universal Trust Stock Performance

Shares of NYSE:FT opened at $7.55 on Friday. The business has a 50-day moving average price of $7.42 and a 200-day moving average price of $7.02. Franklin Universal Trust has a 52-week low of $5.97 and a 52-week high of $7.65.

Franklin Universal Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be paid a dividend of $0.0425 per share. This represents a $0.51 annualized dividend and a yield of 6.75%. The ex-dividend date of this dividend is Thursday, October 17th.

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.