Shares of Franklin Resources Inc. BEN, -4.59% slipped 4.59% to $27.23 Thursday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index SPX, -0.43% falling 0.43% to 4,259.52 and Dow Jones Industrial Average DJIA, -0.34% falling 0.34% to 33,174.07. The stock’s fall snapped a two-day winning streak. Franklin Resources Inc. closed $11.04 short of its 52-week high ($38.27), which the company achieved on November 2nd.
The stock underperformed when compared to some of its competitors Thursday, as BlackRock Inc. BLK, +0.57% rose 0.57% to $697.20, IGM Financial Inc. IGIFF, +2.06% rose 2.06% to $35.24, and Affiliated Managers Group Inc. AMG, -1.85% fell 1.85% to $128.01. Trading volume (4.9 M) eclipsed its 50-day average volume of 2.9 M.