Franklin Universal Trust $FT Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC lessened its stake in Franklin Universal Trust (NYSE:FT) by 27.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,233 shares of the financial services provider’s stock after selling 6,911 shares during the quarter. HighTower Advisors LLC owned 0.07% of Franklin Universal Trust worth $137,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MB Levis & Associates LLC acquired a new position in Franklin Universal Trust during the first quarter worth $77,000. Uncommon Cents Investing LLC increased its holdings in shares of Franklin Universal Trust by 2.4% during the 1st quarter. Uncommon Cents Investing LLC now owns 176,625 shares of the financial services provider’s stock worth $1,330,000 after buying an additional 4,223 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Franklin Universal Trust during the 1st quarter worth approximately $81,000. Cambridge Investment Research Advisors Inc. increased its position in shares of Franklin Universal Trust by 18.3% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,259 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 3,286 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Franklin Universal Trust during the fourth quarter valued at about $614,000.

Franklin Universal Trust Stock Up 0.6%

NYSE FT opened at $7.96 on Friday. Franklin Universal Trust has a 1-year low of $6.71 and a 1-year high of $8.07. The stock has a 50-day moving average of $7.83 and a two-hundred day moving average of $7.57.

Franklin Universal Trust Announces Dividend

The firm also recently declared a monthly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a dividend of $0.0425 per share. This represents a c) dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Monday, August 18th.

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.