Bank of America Corp DE Acquires New Position in Templeton Dragon Fund, Inc. $TDF

Key Points

• Bank of America acquired 285,273 shares of Templeton Dragon Fund during the second quarter, worth approximately $3.1 million and representing about 1.13% of the fund.
• Several institutional investors increased their TDF positions, and institutional investors collectively own 47.20% of the fund.
• TDF recently traded at $9.61, near its one-year low, while maintaining a quarterly dividend of $0.15, equivalent to a 6.2% annualized yield.

Bank of America Corp DE bought a new position in shares of Templeton Dragon Fund, Inc. (NYSE:TDF - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 285,273 shares of the financial services provider's stock, valued at approximately $3,107,000. Bank of America Corp DE owned about 1.13% of Templeton Dragon Fund as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TDF. Allspring Global Investments Holdings LLC raised its position in shares of Templeton Dragon Fund by 14.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,942,433 shares of the financial services provider's stock valued at $20,609,000 after acquiring an additional 238,581 shares in the last quarter. 180 Wealth Advisors LLC boosted its holdings in Templeton Dragon Fund by 5.3% in the second quarter. 180 Wealth Advisors LLC now owns 329,251 shares of the financial services provider's stock worth $3,586,000 after purchasing an additional 16,590 shares during the period. 1607 Capital Partners LLC increased its stake in Templeton Dragon Fund by 50.9% during the fourth quarter. 1607 Capital Partners LLC now owns 163,411 shares of the financial services provider's stock valued at $1,840,000 after purchasing an additional 55,093 shares during the last quarter. Compound Planning Inc. increased its stake in Templeton Dragon Fund by 11.9% during the first quarter. Compound Planning Inc. now owns 67,534 shares of the financial services provider's stock valued at $717,000 after purchasing an additional 7,198 shares during the last quarter. Finally, Quantedge Capital Pte Ltd raised its holdings in shares of Templeton Dragon Fund by 10.3% during the first quarter. Quantedge Capital Pte Ltd now owns 41,716 shares of the financial services provider's stock worth $443,000 after purchasing an additional 3,900 shares during the period. Institutional investors and hedge funds own 47.20% of the company's stock.

Templeton Dragon Fund Stock Performance

Templeton Dragon Fund stock opened at $9.61 on Wednesday. The firm's 50-day moving average is $10.61 and its 200-day moving average is $10.83. Templeton Dragon Fund, Inc. has a 1 year low of $9.44 and a 1 year high of $12.20.

Templeton Dragon Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a $0.60 dividend on an annualized basis and a yield of 6.2%.

Templeton Dragon Fund Profile

Templeton Dragon Fund, Inc is a closed-end investment company that seeks long-term capital appreciation by investing primarily in equity securities of companies connected to the People's Republic of China. The fund's portfolio may include companies domiciled in mainland China as well as businesses listed or operating in other markets that derive a substantial portion of their revenues or assets from China.

The fund provides investors with access to a diversified portfolio of Chinese companies across multiple industries.

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