Shares of Franklin Universal Trust (NYSE:FT) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $7.02 and last traded at $7.00, with a volume of 200 shares traded. The stock had previously closed at $6.97.
The firm also recently announced a monthly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be given a dividend of $0.032 per share. This represents a $0.38 annualized dividend and a dividend yield of 5.49%. The ex-dividend date is Wednesday, February 27th.
Several large investors have recently added to or reduced their stakes in FT. Koshinski Asset Management Inc. grew its holdings in Franklin Universal Trust by 67.8% during the 3rd quarter. Koshinski Asset Management Inc. now owns 503,921 shares of the financial services provider’s stock valued at $3,351,000 after buying an additional 203,566 shares in the last quarter. Morgan Stanley raised its position in Franklin Universal Trust by 62.8% during the 3rd quarter. Morgan Stanley now owns 482,793 shares of the financial services provider’s stock valued at $3,210,000 after purchasing an additional 186,274 shares in the last quarter. Financial & Investment Management Group Ltd. raised its position in Franklin Universal Trust by 8.7% during the 4th quarter. Financial & Investment Management Group Ltd. now owns 1,755,395 shares of the financial services provider’s stock valued at $11,147,000 after purchasing an additional 140,393 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Franklin Universal Trust by 297.3% in the 4th quarter. Raymond James & Associates now owns 162,374 shares of the financial services provider’s stock valued at $1,031,000 after acquiring an additional 121,509 shares during the period. Finally, Shaker Financial Services LLC increased its holdings in shares of Franklin Universal Trust by 61.9% in the 3rd quarter. Shaker Financial Services LLC now owns 224,442 shares of the financial services provider’s stock valued at $1,493,000 after acquiring an additional 85,826 shares during the period. Hedge funds and other institutional investors own 20.87% of the company’s stock.
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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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