Franklin Universal Trust (NYSE:FT) Shares Acquired by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. increased its stake in shares of Franklin Universal Trust (NYSE:FT) by 24.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 325,826 shares of the financial services provider’s stock after acquiring an additional 63,802 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Franklin Universal Trust were worth $2,463,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Commonwealth Equity Services LLC boosted its position in Franklin Universal Trust by 654.4% in the 2nd 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. Sanctuary Advisors LLC purchased a new stake in Franklin Universal Trust during the second quarter worth $843,000. Cetera Advisors LLC acquired a new stake in Franklin Universal Trust during the first quarter valued at $514,000. Moloney Securities Asset Management LLC raised its position in shares of Franklin Universal Trust by 11.1% in the first quarter. Moloney Securities Asset Management LLC now owns 626,915 shares of the financial services provider’s stock worth $4,163,000 after acquiring an additional 62,476 shares during the period. Finally, Wolverine Asset Management LLC boosted its stake in shares of 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 worth $992,000 after acquiring an additional 5,192 shares in the last quarter.

Franklin Universal Trust Stock Performance

NYSE:FT opened at $7.55 on Friday. Franklin Universal Trust has a 52 week low of $5.97 and a 52 week high of $7.65. The stock’s 50-day moving average price is $7.42 and its 200-day moving average price is $7.02.

Franklin Universal Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be issued a $0.0425 dividend. This represents a $0.51 annualized dividend and a yield of 6.75%. The ex-dividend date of this dividend is Thursday, October 17th.

About Franklin Universal Trust

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.