Public Employees Retirement System of Ohio Sells 967,532 Shares of Templeton Dragon Fund, Inc. $TDF

Key Points

• Public Employees Retirement System of Ohio cut its Templeton Dragon Fund stake by 63.1%, selling 967,532 shares and retaining 566,330 shares worth approximately $6.0 million, or 2.25% of the fund.
• Other institutional investors largely increased their positions, and institutions collectively own 47.2% of TDF.
• TDF shares opened at $10.59, near the lower end of their 52-week range, while the fund raised its quarterly dividend to $0.15 per share, implying a 5.7% annualized yield.

Public Employees Retirement System of Ohio reduced its holdings in shares of Templeton Dragon Fund, Inc. (NYSE:TDF - Free Report) by 63.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 566,330 shares of the financial services provider's stock after selling 967,532 shares during the quarter. Public Employees Retirement System of Ohio owned 2.25% of Templeton Dragon Fund worth $6,009,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in 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 purchasing an additional 238,581 shares during the last quarter. Wolverine Asset Management LLC bought a new stake in Templeton Dragon Fund during the 4th quarter worth approximately $694,000. 1607 Capital Partners LLC raised its stake in shares of Templeton Dragon Fund by 50.9% in the fourth quarter. 1607 Capital Partners LLC now owns 163,411 shares of the financial services provider's stock worth $1,840,000 after purchasing an additional 55,093 shares during the last quarter. Quantedge Capital Pte Ltd raised its stake in shares of Templeton Dragon Fund by 10.3% in 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 last quarter. Finally, Compound Planning Inc. lifted its holdings in shares of 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 valued at $679,000 after purchasing an additional 2,241 shares in the last quarter. 47.20% of the stock is owned by institutional investors.

Templeton Dragon Fund Stock Performance

TDF stock opened at $10.59 on Wednesday. Templeton Dragon Fund, Inc. has a twelve month low of $10.02 and a twelve month high of $12.20. The stock's 50 day moving average is $10.84 and its 200-day moving average is $11.16.

Templeton Dragon Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend was Tuesday, June 23rd. This is an increase from Templeton Dragon Fund's previous quarterly dividend of $0.10.

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.

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