Templeton Dragon Fund, Inc. (NYSE:TDF) Sees Significant Increase in Short Interest

Key Points

• Short interest more than doubled to 15,760 shares as of August 31, up 104.7% from mid-August. Still, only 0.1% of shares are sold short, representing 0.4 days of average trading volume.
• Templeton Dragon Fund shares rose 0.1% to $10.40, near the lower end of their 52-week range of $10.25 to $12.20.
• The fund declared a quarterly dividend of $0.15 per share, equivalent to $0.60 annually and a 5.8% yield. Institutional investors own 47.2% of the company.

Templeton Dragon Fund, Inc. (NYSE:TDF - Get Free Report) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 15,760 shares, an increase of 104.7% from the August 15th total of 7,698 shares. Based on an average daily volume of 38,260 shares, the short-interest ratio is presently 0.4 days. Currently, 0.1% of the company's shares are sold short.

Templeton Dragon Fund Stock Up 0.1%

Shares of NYSE:TDF traded up $0.01 during trading on Monday, hitting $10.40. 64,642 shares of the company's stock were exchanged, compared to its average volume of 73,369. Templeton Dragon Fund has a 1-year low of $10.25 and a 1-year high of $12.20. The firm has a 50-day moving average price of $10.78 and a two-hundred day moving average price of $10.94.

Templeton Dragon Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd will be paid 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 5.8%.

Institutional Trading of Templeton Dragon Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Royal Bank of Canada lifted its stake in shares of Templeton Dragon Fund by 29.0% in the 1st 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 during the period. Integrated Wealth Concepts LLC acquired a new stake in shares of Templeton Dragon Fund during the second quarter worth $184,000. Quantedge Capital Pte Ltd increased its holdings in 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 valued at $443,000 after purchasing an additional 3,900 shares during the last quarter. Compound Planning Inc. increased its holdings in Templeton Dragon Fund by 11.9% in 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, 1607 Capital Partners LLC grew its position in 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 valued at $1,840,000 after purchasing an additional 55,093 shares in the last quarter. Institutional investors own 47.20% of the company's stock.

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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