Templeton Dragon Fund, Inc. (NYSE:TDF) Short Interest Update

Templeton Dragon Fund, Inc. (NYSE:TDF) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 10,922 shares, a drop of 39.2% from the May 14th total of 17,967 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 46,445 shares, the days-to-cover ratio is currently 0.2 days.

Templeton Dragon Fund Trading Up 2.0%

Shares of TDF traded up $0.21 during trading hours on Monday, hitting $10.94. The stock had a trading volume of 24,217 shares, compared to its average volume of 81,689. The company’s fifty day simple moving average is $11.13 and its 200 day simple moving average is $11.29. Templeton Dragon Fund has a 12-month low of $9.42 and a 12-month high of $12.20.

Templeton Dragon Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be given a $0.15 dividend. This is an increase from Templeton Dragon Fund’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a $0.60 annualized dividend and a dividend yield of 5.5%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Lazard Asset Management LLC raised its position in shares of Templeton Dragon Fund by 1.5% in the 4th quarter. Lazard Asset Management LLC now owns 2,835,608 shares of the financial services provider’s stock worth $31,929,000 after buying an additional 41,989 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Templeton Dragon Fund by 14.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,942,433 shares of the financial services provider’s stock worth $20,609,000 after buying an additional 238,581 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Templeton Dragon Fund by 4.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,533,862 shares of the financial services provider’s stock worth $17,271,000 after buying an additional 72,188 shares during the period. Uncommon Cents Investing LLC raised its position in shares of Templeton Dragon Fund by 1.0% in the 4th quarter. Uncommon Cents Investing LLC now owns 535,375 shares of the financial services provider’s stock worth $6,028,000 after buying an additional 5,465 shares during the period. Finally, 180 Wealth Advisors LLC raised its position in shares of Templeton Dragon Fund by 5.1% in the 1st quarter. 180 Wealth Advisors LLC now owns 312,661 shares of the financial services provider’s stock worth $3,317,000 after buying an additional 15,084 shares during the period. 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.