Franklin Resources (BEN) has been under a strong bear grip, hence the stock is down -0.34% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.59% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.09% in the last 1 week, and is up 4.02% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 4.69% and the 50-Day Moving Average is 0.62%.
Franklin Resources (NYSE:BEN): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $34.68 and $34.37 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $35.01. The buying momentum continued till the end and the stock did not give up its gains. It closed at $34.69, notching a gain of 0.14% for the day. The total traded volume was 2,152,108 . The stock had closed at $34.64 on the previous day.
The company Insiders own 20.41% of Franklin Resources shares according to the proxy statements. Institutional Investors own 50.4% of Franklin Resources shares. In a related news, Johnson Jennifer M, officer (Co-President) of Franklin Resources Inc, executed a transaction worth $7,505 on December 22, 2015. A total of 210 shares were purchased at an average price of $35.74. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
Franklin Resources, Inc. (Franklin), is a holding company. Franklin together with its various subsidiaries (collectively, the Company), is referred to as Franklin Templeton Investments, is a global investment management organization offering investment management and related services under the Franklin, Templeton, Mutual Series, Bissett, Fiduciary and Darby brand names. It provides services to investment funds in jurisdictions globally, which include the United States- and non- United States-registered open-end and closed-end funds, unregistered funds, and institutional, high net-worth and separately-managed accounts. The Companys investment management and related services include fund administration, shareholder services, transfer agency, underwriting, distribution, custodial, trustee and other fiduciary services. Its sponsored investment products include a range of equity, hybrid, fixed-income and cash management funds and accounts, including alternative investment products.