Templeton Emerging Markets Fund (NYSE:EMF) Short Interest Up 112.4% in August

Key Points

• Short interest more than doubled to 18,762 shares as of August 31, up 112.4% from mid-August. Short interest represents 0.1% of shares outstanding, with a days-to-cover ratio of 0.6.
• Institutional ownership stands at 49.86%, with several firms—including Cetera Investment Advisers, Royal Bank of Canada, Northwestern Mutual and Wells Fargo—recently increasing their positions.
• EMF shares fell 2.3% to $22.08, while the fund declared a quarterly dividend of $0.24 per share, equivalent to $0.96 annually and a 4.3% yield.

Templeton Emerging Markets Fund (NYSE:EMF - Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 18,762 shares, a growth of 112.4% from the August 15th total of 8,832 shares. Based on an average daily volume of 31,968 shares, the days-to-cover ratio is presently 0.6 days. Currently, 0.1% of the shares of the stock are short sold.

Institutional Trading of Templeton Emerging Markets Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its position in shares of Templeton Emerging Markets Fund by 3.5% in the 1st quarter. Cetera Investment Advisers now owns 22,096 shares of the financial services provider's stock valued at $386,000 after buying an additional 754 shares in the last quarter. Royal Bank of Canada lifted its holdings in Templeton Emerging Markets Fund by 8.3% during the fourth quarter. Royal Bank of Canada now owns 15,404 shares of the financial services provider's stock worth $262,000 after acquiring an additional 1,178 shares in the last quarter. Fifth Third Bancorp acquired a new position in Templeton Emerging Markets Fund in the first quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. grew its stake in Templeton Emerging Markets Fund by 5.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 33,570 shares of the financial services provider's stock valued at $780,000 after acquiring an additional 1,747 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Templeton Emerging Markets Fund by 11.5% in the fourth quarter. Wells Fargo & Company MN now owns 20,341 shares of the financial services provider's stock worth $346,000 after acquiring an additional 2,096 shares in the last quarter. 49.86% of the stock is owned by institutional investors.

Templeton Emerging Markets Fund Stock Down 2.3%

EMF traded down $0.52 during mid-day trading on Monday, reaching $22.08. The stock had a trading volume of 20,984 shares, compared to its average volume of 52,582. The firm's fifty day simple moving average is $22.05 and its two-hundred day simple moving average is $21.26. Templeton Emerging Markets Fund has a 52 week low of $16.07 and a 52 week high of $24.70.

Templeton Emerging Markets Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be issued a $0.24 dividend. The ex-dividend date is Wednesday, September 23rd. This represents a $0.96 annualized dividend and a yield of 4.3%.

About Templeton Emerging Markets Fund

Templeton Emerging Markets Fund NYSE: EMF is a closed-end investment fund that seeks long-term capital appreciation by investing primarily in equity securities of companies located in emerging-market countries. The fund provides investors with diversified exposure to businesses operating in developing economies.

The fund may invest across a range of emerging-market regions, including Asia, Latin America, Europe, Africa and the Middle East. Its portfolio can include companies from various industries, with investments selected based on the growth potential and fundamental characteristics of individual businesses and markets.

Templeton Emerging Markets Fund is managed by investment professionals affiliated with Franklin Templeton, a global asset-management organization.

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