Short Interest in Templeton Dragon Fund, Inc. (NYSE:TDF) Drops By 78.2%

Key Points

• Short interest in Templeton Dragon Fund fell 78.2% to 7,698 shares as of August 14, down from 35,368 shares on July 30. Short interest represents 0.0% of shares outstanding, with a days-to-cover ratio of 0.2.
• TDF shares opened at $10.85, compared with a 52-week range of $10.26 to $12.20. The stock’s 50-day and 200-day moving averages were $10.79 and $11.04, respectively.
• Institutional investors own 47.2% of the fund, with several firms—including Royal Bank of Canada and Quantedge Capital—recently increasing their holdings.

Templeton Dragon Fund, Inc. (NYSE:TDF - Get Free Report) was the target of a significant drop in short interest in August. As of August 14th, there was short interest totaling 7,698 shares, a drop of 78.2% from the July 30th total of 35,368 shares. Based on an average daily trading volume, of 49,931 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the shares of the company are sold short.

Templeton Dragon Fund Price Performance

Shares of TDF opened at $10.85 on Wednesday. Templeton Dragon Fund has a 1 year low of $10.26 and a 1 year high of $12.20. The stock has a 50 day simple moving average of $10.79 and a 200-day simple moving average of $11.04.

Institutional Trading of Templeton Dragon Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in TDF. Royal Bank of Canada boosted its holdings in 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 worth $48,000 after buying an additional 1,000 shares during the last quarter. Ameriprise Financial Inc. acquired a new stake in Templeton Dragon Fund during the 3rd quarter worth $144,000. XTX Topco Ltd bought a new position in Templeton Dragon Fund during the fourth quarter worth about $147,000. Quantedge Capital Pte Ltd lifted its holdings in 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 acquiring an additional 3,900 shares in the last quarter. Finally, Compound Planning Inc. grew 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 valued at $679,000 after acquiring an additional 2,241 shares during the period. 47.20% of the stock is owned by 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.

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