Templeton Emerging Markets Income Fund (NYSE:TEI) Shares Cross Below 50 Day Moving Average – What’s Next?

Templeton Emerging Markets Income Fund (NYSE:TEI) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $6.33 and traded as low as $6.15. Templeton Emerging Markets Income Fund shares last traded at $6.2790, with a volume of 150,229 shares.

Templeton Emerging Markets Income Fund Stock Up 0.6%

The stock’s fifty day moving average price is $6.32 and its 200 day moving average price is $6.49.

Templeton Emerging Markets Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd will be issued a dividend of $0.054 per share. This represents a c) annualized dividend and a yield of 10.4%. The ex-dividend date is Wednesday, September 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TEI. Evergreen Capital Management LLC raised its position in shares of Templeton Emerging Markets Income Fund by 0.9% in the 4th quarter. Evergreen Capital Management LLC now owns 3,079,241 shares of the company’s stock valued at $19,861,000 after purchasing an additional 26,106 shares during the last quarter. Invesco Ltd. raised its position in Templeton Emerging Markets Income Fund by 1.8% during the 2nd quarter. Invesco Ltd. now owns 879,198 shares of the company’s stock worth $5,275,000 after buying an additional 15,727 shares during the last quarter. LPL Financial LLC raised its position in Templeton Emerging Markets Income Fund by 8.5% during the 4th quarter. LPL Financial LLC now owns 557,610 shares of the company’s stock worth $3,597,000 after buying an additional 43,562 shares during the last quarter. Rareview Capital LLC raised its position in Templeton Emerging Markets Income Fund by 9.6% during the 1st quarter. Rareview Capital LLC now owns 551,585 shares of the company’s stock worth $3,310,000 after buying an additional 48,514 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. raised its position in Templeton Emerging Markets Income Fund by 4.0% during the 4th quarter. Pekin Hardy Strauss Inc. now owns 412,810 shares of the company’s stock worth $2,663,000 after buying an additional 15,750 shares during the last quarter.

About Templeton Emerging Markets Income Fund

Templeton Emerging Markets Income Fund (NYSE: TEI) is a closed-end management investment company that seeks to provide high current income, with a secondary objective of capital appreciation. Launched in 2006, the fund is managed by Franklin Templeton Investment Management Limited, drawing on the firm’s extensive experience in emerging market debt and equity markets. It is listed on the New York Stock Exchange and conducts its investment operations in U.S. dollars.

The fund’s portfolio is diversified across a broad spectrum of emerging market securities, including sovereign and corporate debt instruments, dividend-paying equities, convertible securities and preferred stocks.