Franklin Universal Trust (FT) Stock

Franklin Universal Trust is a closed-end fund with the approach of investing in a high-yield bond and utility equity portfolio. The fund trades at a deep discount, but it isn't necessarily looking like a bargain based on historical levels. The fund pays a monthly distribution, with 70% net investment income coverage, thanks to its higher fixed-income sleeve, but that means it will still require some capital gains.

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Franklin Universal Trust provides income-focused investors with the chance to earn high income while still potentially gaining capital. The closed-end fund's current yield of 7.49% outperforms the S&P 500 Index and Dow Jones Industrial Average. Although performance in the last three years has been lackluster, shareholders saw a total return of 8.94% including distributions.

Franklin Universal Trust provides exposure to high-yield bonds and utilities, then offers an attractive distribution yield for investors. FT utilizes borrowings based on a fixed-rate, which recently matured and needed to be refinanced higher, though distribution coverage still remains relatively strong. The fund is currently trading at a deep discount but, on a relative basis, is only mildly attractive.

FT is a fixed income closed end fund that seeks to provide high current income while also targeting capital preservation. The fund has a 60/40 fixed income/utilities equities allocation, which provides for an embedded hedge via the defensive nature of the utilities sleeve. The fund has a fully supported dividend yield, and its historical NAV performance attests to its capital preservation mandate.