Templeton Dragon Fund, Inc. (NYSE:TDF) Sees Large Decrease in Short Interest

Templeton Dragon Fund, Inc. (NYSE:TDF) was the recipient of a significant decline in short interest during the month of June. As of June 30th, there was short interest totaling 6,339 shares, a decline of 40.7% from the June 15th total of 10,684 shares. Based on an average daily volume of 87,381 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s stock are short sold.

Templeton Dragon Fund Trading Down 0.2%

Shares of NYSE:TDF traded down $0.02 during midday trading on Thursday, reaching $10.91. 30,766 shares of the company’s stock traded hands, compared to its average volume of 81,019. Templeton Dragon Fund has a one year low of $10.02 and a one year high of $12.20. The stock has a 50 day moving average of $10.97 and a 200 day moving average of $11.21.

Templeton Dragon Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $0.60 annualized dividend and a yield of 5.5%. This is an increase from Templeton Dragon Fund’s previous quarterly dividend of $0.10.

Institutional Investors Weigh In On Templeton Dragon Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in TDF. Wolverine Asset Management LLC purchased a new stake in Templeton Dragon Fund during the 4th quarter valued at $694,000. 1607 Capital Partners LLC boosted its stake in shares of Templeton Dragon Fund by 50.9% in the 4th quarter. 1607 Capital Partners LLC now owns 163,411 shares of the financial services provider’s stock worth $1,840,000 after buying an additional 55,093 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Templeton Dragon Fund in the fourth quarter worth $51,000. Uncommon Cents Investing LLC increased its position in Templeton Dragon Fund by 1.0% during the fourth quarter. Uncommon Cents Investing LLC now owns 535,375 shares of the financial services provider’s stock valued at $6,028,000 after acquiring an additional 5,465 shares during the last quarter. Finally, 180 Wealth Advisors LLC increased its position in Templeton Dragon Fund by 14.4% during the fourth quarter. 180 Wealth Advisors LLC now owns 297,577 shares of the financial services provider’s stock valued at $3,351,000 after acquiring an additional 37,445 shares during the last quarter. Hedge funds and other institutional investors own 47.20% of the company’s stock.

About Templeton Dragon Fund

Templeton Dragon Fund (NYSE:TDF) is a closed-end investment company managed by Franklin Templeton Investment Funds. Established in March 1987, the fund was one of the earliest U.S.-listed vehicles dedicated to providing exposure to the Greater China equity markets. Over its long operating history, Templeton Dragon Fund has sought to capture growth opportunities in a region undergoing rapid economic transformation.

The fund’s primary investment objective is long-term capital appreciation through a diversified portfolio of common stocks, depositary receipts and other equity-related securities of companies domiciled in, or deriving significant revenue from, Mainland China, Hong Kong and Taiwan.