Wolverine Asset Management LLC Lowers Position in Franklin Universal Trust (NYSE:FT)

Wolverine Asset Management LLC decreased its stake in Franklin Universal Trust (NYSE:FT) by 31.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100,329 shares of the financial services provider’s stock after selling 45,309 shares during the quarter. Wolverine Asset Management LLC’s holdings in Franklin Universal Trust were worth $758,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Moloney Securities Asset Management LLC increased its position in Franklin Universal Trust by 1.1% during the third quarter. Moloney Securities Asset Management LLC now owns 660,916 shares of the financial services provider’s stock valued at $4,997,000 after acquiring an additional 7,158 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Franklin Universal Trust by 2.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 97,123 shares of the financial services provider’s stock valued at $734,000 after purchasing an additional 1,941 shares during the period. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Franklin Universal Trust by 24.3% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 325,826 shares of the financial services provider’s stock valued at $2,463,000 after purchasing an additional 63,802 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Franklin Universal Trust during the second quarter valued at approximately $843,000. Finally, Commonwealth Equity Services LLC raised its stake in Franklin Universal Trust by 654.4% in the second quarter. Commonwealth Equity Services LLC now owns 151,663 shares of the financial services provider’s stock worth $1,033,000 after buying an additional 131,558 shares in the last quarter.

Franklin Universal Trust Trading Down 0.8 %

Shares of NYSE:FT opened at $7.54 on Wednesday. The business’s fifty day simple moving average is $7.49 and its 200-day simple moving average is $7.10. Franklin Universal Trust has a 12-month low of $6.32 and a 12-month high of $7.69.

Franklin Universal Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be issued a $0.0425 dividend. This represents a $0.51 annualized dividend and a yield of 6.77%. The ex-dividend date of this dividend is Monday, November 18th.

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.