Templeton Dragon Fund (NYSE:TDF) Share Price Crosses Above 50-Day Moving Average – Here’s What Happened

Templeton Dragon Fund, Inc. (NYSE:TDF) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $10.80 and traded as high as $11.05. Templeton Dragon Fund shares last traded at $10.90, with a volume of 25,897 shares traded.

Templeton Dragon Fund Trading Up 0.2%

The business’s 50 day moving average is $10.80 and its 200 day moving average is $11.13.

Templeton Dragon Fund Increases Dividend

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

Institutional Trading of Templeton Dragon Fund

A number of hedge funds have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its stake in shares of Templeton Dragon Fund by 29.0% during the first quarter. Royal Bank of Canada now owns 4,450 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,000 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in Templeton Dragon Fund in the fourth quarter worth about $51,000. Ameriprise Financial Inc. acquired a new stake in Templeton Dragon Fund in the 3rd quarter worth approximately $144,000. XTX Topco Ltd purchased a new stake in shares of Templeton Dragon Fund during the fourth quarter valued at $147,000. Finally, Quantedge Capital Pte Ltd grew its stake in Templeton Dragon Fund by 10.3% during the 1st quarter. Quantedge Capital Pte Ltd now owns 41,716 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 3,900 shares during the last quarter. 47.20% of the stock is owned by hedge funds and other institutional investors.

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.