Shaker Financial Services LLC Sells 25,182 Shares of Templeton Dragon Fund, Inc. (NYSE:TDF)

Key Points

• Shaker Financial Services LLC reduced its stake in Templeton Dragon Fund, Inc. (NYSE:TDF) by 23.6%, now holding 81,665 shares valued at $792,000.
• A number of large investors have entered new positions in Templeton Dragon Fund, including Elequin Capital LP and Landscape Capital Management, indicating growing institutional interest.
• Templeton Dragon Fund recently declared a quarterly dividend of $0.10 per share, yielding 3.9% annually.

Shaker Financial Services LLC lessened its stake in Templeton Dragon Fund, Inc. (NYSE:TDF - Free Report) by 23.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,665 shares of the financial services provider's stock after selling 25,182 shares during the quarter. Shaker Financial Services LLC owned 0.32% of Templeton Dragon Fund worth $792,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Commonwealth Equity Services LLC raised its holdings in Templeton Dragon Fund by 89.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 39,915 shares of the financial services provider's stock valued at $339,000 after buying an additional 18,815 shares during the period. Landscape Capital Management L.L.C. acquired a new stake in Templeton Dragon Fund during the fourth quarter valued at approximately $92,000. Wells Fargo & Company MN boosted its holdings in Templeton Dragon Fund by 5.6% in the fourth quarter. Wells Fargo & Company MN now owns 20,750 shares of the financial services provider's stock worth $176,000 after purchasing an additional 1,107 shares during the period. Cohen & Steers Inc. bought a new position in Templeton Dragon Fund in the fourth quarter worth about $255,000. Finally, Almitas Capital LLC acquired a new position in Templeton Dragon Fund during the 4th quarter valued at about $101,000. Hedge funds and other institutional investors own 47.20% of the company's stock.

Templeton Dragon Fund Trading Down 0.1%

Shares of NYSE TDF traded down $0.01 during mid-day trading on Thursday, hitting $10.32. 8,571 shares of the company traded hands, compared to its average volume of 37,116. The business has a 50 day moving average of $10.06 and a two-hundred day moving average of $9.57. Templeton Dragon Fund, Inc. has a 1 year low of $7.54 and a 1 year high of $10.50.

Templeton Dragon Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 16th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, June 16th.

Templeton Dragon Fund Profile

Templeton Dragon Fund, Inc is a closed ended equity mutual fund launched by Franklin Resources, Inc The fund is managed by Templeton Asset Management Ltd. It invests in the public equity markets of China. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in value stocks of companies.