Wolverine Asset Management LLC cut its stake in shares of Franklin Universal Trust (NYSE:FT – Free Report) by 31.1% in the third quarter, HoldingsChannel.com reports. The fund owned 100,329 shares of the financial services provider’s stock after selling 45,309 shares during the period. Wolverine Asset Management LLC’s holdings in Franklin Universal Trust were worth $758,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Cetera Advisors LLC acquired a new position in Franklin Universal Trust in the first quarter valued at approximately $514,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Franklin Universal Trust by 18.7% in 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 buying an additional 41,353 shares during the period. Moloney Securities Asset Management LLC lifted its stake in Franklin Universal Trust by 4.3% in the second quarter. Moloney Securities Asset Management LLC now owns 653,758 shares of the financial services provider’s stock worth $4,452,000 after acquiring an additional 26,843 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Franklin Universal Trust by 654.4% during the second quarter. Commonwealth Equity Services LLC now owns 151,663 shares of the financial services provider’s stock worth $1,033,000 after purchasing an additional 131,558 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Franklin Universal Trust during the 2nd quarter worth about $843,000.
Franklin Universal Trust Stock Performance
Shares of NYSE:FT opened at $7.54 on Wednesday. The firm has a 50 day simple moving average of $7.49 and a 200-day simple moving average of $7.10. Franklin Universal Trust has a twelve month low of $6.32 and a twelve month high of $7.69.
Franklin Universal Trust Dividend Announcement
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.
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