Janney Montgomery Scott LLC Raises Stake in Franklin Universal Trust (NYSE:FT)

Janney Montgomery Scott LLC lifted its holdings in shares of Franklin Universal Trust (NYSE:FT) by 2.0% in the third quarter, HoldingsChannel.com reports. The firm owned 97,123 shares of the financial services provider’s stock after acquiring an additional 1,941 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Franklin Universal Trust were worth $734,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FT. Cetera Advisors LLC purchased a new position in shares of Franklin Universal Trust during the 1st quarter worth $514,000. Sanctuary Advisors LLC purchased a new position in Franklin Universal Trust during the 2nd quarter valued at about $843,000. Wolverine Asset Management LLC boosted its holdings 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 valued at $992,000 after acquiring an additional 5,192 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Franklin Universal Trust by 654.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 151,663 shares of the financial services provider’s stock valued at $1,033,000 after acquiring an additional 131,558 shares during the period. Finally, Hennion & Walsh Asset Management Inc. boosted its holdings in Franklin Universal Trust by 18.7% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 262,024 shares of the financial services provider’s stock valued at $1,784,000 after acquiring an additional 41,353 shares during the period.

Franklin Universal Trust Stock Performance

Shares of Franklin Universal Trust stock opened at $7.51 on Monday. The business has a 50-day moving average of $7.51 and a 200 day moving average of $7.13. Franklin Universal Trust has a 12 month low of $6.34 and a 12 month high of $7.69.

Franklin Universal Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be issued a dividend of $0.0425 per share. This represents a $0.51 dividend on an annualized basis and a yield of 6.79%. The ex-dividend date is Monday, November 18th.

Franklin Universal Trust 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.