Oppenheimer & Co. Inc. Acquires Shares of 10,720 Franklin Universal Trust (NYSE:FT)

Oppenheimer & Co. Inc. bought a new stake in Franklin Universal Trust (NYSE:FTFree Report) during the first quarter, HoldingsChannel.com reports. The institutional investor bought 10,720 shares of the financial services provider’s stock, valued at approximately $81,000.

A number of other institutional investors have also modified their holdings of FT. Blue Bell Private Wealth Management LLC grew its holdings in 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 worth $82,000 after acquiring an additional 1,632 shares during the period. Bridgewealth Advisory Group LLC purchased a new stake in shares of Franklin Universal Trust in the fourth quarter valued at $113,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Franklin Universal Trust by 18.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 21,259 shares of the financial services provider’s stock valued at $160,000 after acquiring an additional 3,286 shares in the last quarter. Shaker Financial Services LLC lifted its position in Franklin Universal Trust by 27.5% during the fourth quarter. Shaker Financial Services LLC now owns 51,188 shares of the financial services provider’s stock worth $374,000 after buying an additional 11,042 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Franklin Universal Trust during the fourth quarter worth about $614,000.

Franklin Universal Trust Trading Down 0.1%

NYSE FT opened at $7.68 on Friday. The business’s 50-day moving average price is $7.49 and its 200 day moving average price is $7.45. Franklin Universal Trust has a twelve month low of $6.71 and a twelve month high of $7.80.

Franklin Universal Trust Announces Dividend

The company also recently disclosed a monthly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a $0.0425 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.64%.

About Franklin Universal Trust

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding FT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franklin Universal Trust (NYSE:FTFree Report).

Institutional Ownership by Quarter for Franklin Universal Trust (NYSE:FT)

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