Franklin Universal Trust (NYSE:FT) Shares Pass Below 50 Day Moving Average – Should You Sell?

Shares of Franklin Universal Trust (NYSE:FT) crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $7.53 and traded as low as $7.52. Franklin Universal Trust shares last traded at $7.60, with a volume of 27,357 shares.

Franklin Universal Trust Price Performance

The company’s 50 day simple moving average is $7.53 and its 200-day simple moving average is $7.50.

Franklin Universal Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.0425 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.51 dividend on an annualized basis and a yield of 6.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. HighTower Advisors LLC increased its holdings in Franklin Universal Trust by 4.9% during the 3rd quarter. HighTower Advisors LLC now owns 28,804 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 1,354 shares during the period. Blue Bell Private Wealth Management LLC increased its stake in shares of Franklin Universal Trust by 17.0% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 11,210 shares of the financial services provider’s stock valued at $82,000 after buying an additional 1,632 shares during the period. Uncommon Cents Investing LLC increased its stake in shares of Franklin Universal Trust by 1.1% during the fourth quarter. Uncommon Cents Investing LLC now owns 172,402 shares of the financial services provider’s stock valued at $1,260,000 after buying an additional 1,923 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Franklin Universal Trust by 2.0% in the third quarter. Janney Montgomery Scott LLC now owns 97,123 shares of the financial services provider’s stock valued at $734,000 after acquiring an additional 1,941 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in Franklin Universal Trust by 0.3% in the fourth quarter. LPL Financial LLC now owns 652,535 shares of the financial services provider’s stock worth $4,770,000 after acquiring an additional 2,245 shares during the period.

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.