Wolverine Asset Management LLC Purchases 69,166 Shares of Franklin Universal Trust (NYSE:FT)

Wolverine Asset Management LLC raised its position in Franklin Universal Trust (NYSE:FT) by 4,159.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,829 shares of the financial services provider’s stock after buying an additional 69,166 shares during the quarter. Wolverine Asset Management LLC’s holdings in Franklin Universal Trust were worth $471,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Raymond James & Associates raised its stake in shares of Franklin Universal Trust by 6.6% during the 3rd quarter. Raymond James & Associates now owns 52,094 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 3,215 shares during the period. Uncommon Cents Investing LLC raised its stake in shares of Franklin Universal Trust by 5.6% during the 3rd quarter. Uncommon Cents Investing LLC now owns 154,340 shares of the financial services provider’s stock valued at $980,000 after purchasing an additional 8,129 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Franklin Universal Trust by 4.7% during the 3rd quarter. Janney Montgomery Scott LLC now owns 243,725 shares of the financial services provider’s stock valued at $1,548,000 after purchasing an additional 11,009 shares during the period. Finally, Koshinski Asset Management Inc. raised its stake in shares of Franklin Universal Trust by 48.0% during the 4th quarter. Koshinski Asset Management Inc. now owns 543,700 shares of the financial services provider’s stock valued at $3,616,000 after purchasing an additional 176,355 shares during the period.

Franklin Universal Trust Trading Up 0.3 %

NYSE:FT opened at $6.57 on Friday. Franklin Universal Trust has a 52-week low of $5.97 and a 52-week high of $7.06. The business’s fifty day moving average is $6.52 and its 200 day moving average is $6.49.

Franklin Universal Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Investors of record on Wednesday, April 17th will be given a dividend of $0.0425 per share. This represents a $0.51 annualized dividend and a yield of 7.76%. The ex-dividend date of this dividend is Tuesday, April 16th.

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.