Templeton Dragon Fund (NYSE:TDF) Stock Price Down 0.4% – Here’s Why

Templeton Dragon Fund, Inc. (NYSE:TDF) was down 0.4% during trading on Thursday . The stock traded as low as $10.40 and last traded at $10.61. Approximately 70,364 shares changed hands during mid-day trading, an increase of 5% from the average daily volume of 67,005 shares. The stock had previously closed at $10.65.

Templeton Dragon Fund Stock Down 0.4%

The company’s 50 day moving average price is $11.13 and its 200 day moving average price is $11.29.

Templeton Dragon Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This is a positive change from Templeton Dragon Fund’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 5.7%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wolverine Asset Management LLC purchased a new position in shares of Templeton Dragon Fund in the fourth quarter valued at approximately $694,000. 1607 Capital Partners LLC boosted its stake in shares of Templeton Dragon Fund by 111.2% in the third quarter. 1607 Capital Partners LLC now owns 108,318 shares of the financial services provider’s stock valued at $1,262,000 after purchasing an additional 57,033 shares during the period. XTX Topco Ltd purchased a new position in Templeton Dragon Fund in the fourth quarter worth approximately $147,000. Compound Planning Inc. lifted its stake in Templeton Dragon Fund by 3.9% in the fourth quarter. Compound Planning Inc. now owns 60,336 shares of the financial services provider’s stock worth $679,000 after acquiring an additional 2,241 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Templeton Dragon Fund by 1.2% in the third quarter. Bank of America Corp DE now owns 251,503 shares of the financial services provider’s stock worth $2,930,000 after acquiring an additional 3,083 shares during the last quarter. Hedge funds and other institutional investors own 47.20% of the company’s stock.

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.