Templeton Dragon Fund (NYSE:TDF) Share Price Crosses Below 50-Day Moving Average – What’s Next?

Templeton Dragon Fund, Inc. (NYSE:TDF)’s stock price crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $10.84 and traded as low as $10.48. Templeton Dragon Fund shares last traded at $10.5850, with a volume of 52,578 shares traded.

Templeton Dragon Fund Stock Up 0.3%

The stock’s 50 day moving average is $10.82 and its 200 day moving average is $11.15.

Templeton Dragon Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.6%. This is a boost from Templeton Dragon Fund’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, June 23rd.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Bank of America Corp DE lifted its stake in Templeton Dragon Fund by 14.3% in the 2nd quarter. Bank of America Corp DE now owns 248,420 shares of the financial services provider’s stock valued at $2,482,000 after buying an additional 31,170 shares in the last quarter. Ameriprise Financial Inc. purchased a new position in Templeton Dragon Fund during the third quarter worth $144,000. Uncommon Cents Investing LLC raised its holdings in shares of Templeton Dragon Fund by 1.0% in the fourth quarter. Uncommon Cents Investing LLC now owns 535,375 shares of the financial services provider’s stock worth $6,028,000 after acquiring an additional 5,465 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Templeton Dragon Fund in the fourth quarter worth $51,000. Finally, Wolverine Asset Management LLC purchased a new stake in shares of Templeton Dragon Fund in the fourth quarter valued at $694,000. 47.20% of the stock is owned by hedge funds and other institutional investors.

Templeton Dragon Fund Company Profile

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.