Westchester Capital Management LLC Reduces Position in Franklin Universal Trust (NYSE:FT)

Westchester Capital Management LLC trimmed its stake in Franklin Universal Trust (NYSE:FT) by 13.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,920 shares of the financial services provider’s stock after selling 25,000 shares during the period. Westchester Capital Management LLC’s holdings in Franklin Universal Trust were worth $1,209,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Raymond James Trust N.A. bought a new position in shares of Franklin Universal Trust in the third quarter worth approximately $79,000. Cetera Advisors LLC bought a new position in Franklin Universal Trust in the 1st quarter worth $514,000. Janney Montgomery Scott LLC increased its stake in Franklin Universal Trust by 2.0% in the 3rd quarter. Janney Montgomery Scott LLC now owns 97,123 shares of the financial services provider’s stock worth $734,000 after buying an additional 1,941 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Franklin Universal Trust during the second quarter valued at about $843,000. Finally, Wolverine Asset Management LLC lifted its position in shares of Franklin Universal Trust by 3.7% in the second 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 in the last quarter.

Franklin Universal Trust Trading Up 0.8 %

NYSE:FT opened at $7.79 on Friday. The stock has a 50-day moving average price of $7.55 and a 200 day moving average price of $7.19. Franklin Universal Trust has a 12-month low of $6.34 and a 12-month high of $7.80.

Franklin Universal Trust Announces Dividend

The business also recently announced a monthly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a $0.0425 dividend. This represents a $0.51 annualized dividend and a dividend yield of 6.55%. The ex-dividend date of this dividend was 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.