Franklin Universal Trust Announces Monthly Dividend of $0.04 (NYSE:FT)

Franklin Universal Trust (NYSE:FT) declared a monthly dividend on Tuesday, July 14th. Shareholders of record on Friday, July 24th will be paid a dividend of 0.0425 per share by the financial services provider on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Friday, July 24th.

Franklin Universal Trust Stock Up 0.1%

Shares of FT opened at $8.10 on Wednesday. Franklin Universal Trust has a twelve month low of $7.68 and a twelve month high of $8.35. The firm’s 50 day moving average price is $8.03 and its two-hundred day moving average price is $8.10.

Institutional Investors Weigh In On Franklin Universal Trust

Several institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Franklin Universal Trust by 58,962.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 295,314 shares of the financial services provider’s stock valued at $2,363,000 after purchasing an additional 294,814 shares in the last quarter. Uncommon Cents Investing LLC boosted its position in shares of Franklin Universal Trust by 1.5% during the fourth quarter. Uncommon Cents Investing LLC now owns 185,420 shares of the financial services provider’s stock worth $1,483,000 after buying an additional 2,758 shares during the period. Spire Wealth Management bought a new position in shares of Franklin Universal Trust during the fourth quarter worth about $40,000. Noble Wealth Management PBC bought a new position in shares of Franklin Universal Trust during the fourth quarter worth about $32,000. Finally, PMG Family Office LLC acquired a new stake in Franklin Universal Trust in the 3rd quarter valued at approximately $93,000.

Franklin Universal Trust Company Profile

Franklin Universal Trust (NYSE: FT) is a closed-end management investment company organized under Maryland law and managed by Franklin Templeton. The trust seeks to provide a high level of current income with a secondary objective of capital appreciation. It issues common shares that trade on the New York Stock Exchange, offering investors access to a diversified portfolio of income-oriented credit instruments.

The fund’s core strategy focuses on senior secured floating-rate bank loans, which typically adjust their interest rates in line with market benchmarks.