Advisors Asset Management Inc. Has $3.45 Million Stake in Franklin Universal Trust $FT

Advisors Asset Management Inc. raised its stake in shares of Franklin Universal Trust (NYSE:FT) by 102.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 429,450 shares of the financial services provider’s stock after purchasing an additional 217,780 shares during the period. Advisors Asset Management Inc. owned 1.71% of Franklin Universal Trust worth $3,453,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FT. Raymond James Financial Inc. increased its stake in shares of Franklin Universal Trust by 2.3% in the second quarter. Raymond James Financial Inc. now owns 63,780 shares of the financial services provider’s stock valued at $486,000 after buying an additional 1,455 shares during the period. Uncommon Cents Investing LLC boosted its holdings in Franklin Universal Trust by 0.9% in the third quarter. Uncommon Cents Investing LLC now owns 182,662 shares of the financial services provider’s stock valued at $1,469,000 after acquiring an additional 1,647 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in Franklin Universal Trust during the 2nd quarter valued at approximately $35,000. Moloney Securities Asset Management LLC increased its position in Franklin Universal Trust by 1.2% during the 3rd quarter. Moloney Securities Asset Management LLC now owns 691,160 shares of the financial services provider’s stock valued at $5,557,000 after purchasing an additional 7,995 shares during the period. Finally, Bridgewealth Advisory Group LLC bought a new position in Franklin Universal Trust during the 2nd quarter worth approximately $114,000.

Franklin Universal Trust Price Performance

NYSE:FT opened at $8.26 on Friday. Franklin Universal Trust has a 52 week low of $6.71 and a 52 week high of $8.35. The firm’s fifty day moving average is $8.04 and its 200-day moving average is $8.00.

Franklin Universal Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be given a dividend of $0.0425 per share. The ex-dividend date of this dividend is Tuesday, March 24th. This represents a c) dividend on an annualized basis and a yield of 6.2%.

Franklin Universal Trust 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.