Hennion & Walsh Asset Management Inc. Sells 64,071 Shares of Franklin Universal Trust (NYSE:FT)

Hennion & Walsh Asset Management Inc. cut its stake in Franklin Universal Trust (NYSE:FT) by 19.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 261,755 shares of the financial services provider’s stock after selling 64,071 shares during the quarter. Hennion & Walsh Asset Management Inc. owned approximately 1.04% of Franklin Universal Trust worth $1,913,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of FT. Raymond James Trust N.A. bought a new position in Franklin Universal Trust during the third quarter worth about $79,000. Arete Wealth Advisors LLC bought a new position in Franklin Universal Trust during the third quarter worth about $88,000. HighTower Advisors LLC increased its position in Franklin Universal Trust by 4.9% during the third quarter. HighTower Advisors LLC now owns 28,804 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 1,354 shares during the period. Janney Montgomery Scott LLC increased its position in Franklin Universal Trust by 2.0% during the third quarter. Janney Montgomery Scott LLC now owns 97,123 shares of the financial services provider’s stock worth $734,000 after acquiring an additional 1,941 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in Franklin Universal Trust during the second quarter worth about $843,000.

Franklin Universal Trust Stock Up 0.6 %

NYSE:FT opened at $7.58 on Friday. Franklin Universal Trust has a 52 week low of $6.34 and a 52 week high of $7.80. The firm’s 50-day simple moving average is $7.48 and its 200 day simple moving average is $7.34.

Franklin Universal Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, January 21st will be given a dividend of $0.0425 per share. This represents a $0.51 dividend on an annualized basis and a yield of 6.73%. The ex-dividend date is Tuesday, January 21st.

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.