Short Interest in Templeton Dragon Fund, Inc. (NYSE:TDF) Decreases By 79.8%

Key Points

• Short interest in Templeton Dragon Fund, Inc. (NYSE:TDF) decreased by 79.8% in September, falling from 41,600 shares to just 8,400 shares.
• The company declared a quarterly dividend of $0.10 per share, resulting in an annualized dividend of $0.40 and a dividend yield of 3.5%.
• Several hedge funds have increased their stakes in TDF, with Calamos Advisors LLC notably increasing its position by 55.1%.

Templeton Dragon Fund, Inc. (NYSE:TDF - ) saw a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 8,400 shares, a drop of 79.8% from the September 15th total of 41,600 shares. Based on an average daily volume of 59,900 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 59,900 shares, the days-to-cover ratio is presently 0.1 days.

Templeton Dragon Fund Stock Performance

Shares of NYSE:TDF opened at $11.39 on Friday. The firm's 50 day moving average is $11.26 and its two-hundred day moving average is $10.22. Templeton Dragon Fund has a 52 week low of $8.07 and a 52 week high of $12.04.

Templeton Dragon Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Thursday, September 18th were paid a $0.10 dividend. The ex-dividend date was Thursday, September 18th. This represents a $0.40 annualized dividend and a dividend yield of 3.5%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TDF. Uncommon Cents Investing LLC increased its stake in shares of Templeton Dragon Fund by 3.9% during the first quarter. Uncommon Cents Investing LLC now owns 507,410 shares of the financial services provider's stock valued at $4,922,000 after acquiring an additional 19,170 shares during the period. Matisse Capital increased its stake in shares of Templeton Dragon Fund by 4.0% during the first quarter. Matisse Capital now owns 342,000 shares of the financial services provider's stock valued at $3,317,000 after acquiring an additional 13,000 shares during the period. Calamos Advisors LLC increased its stake in shares of Templeton Dragon Fund by 55.1% during the first quarter. Calamos Advisors LLC now owns 25,356 shares of the financial services provider's stock valued at $246,000 after acquiring an additional 9,007 shares during the period. Dakota Wealth Management increased its stake in shares of Templeton Dragon Fund by 7.0% during the first quarter. Dakota Wealth Management now owns 17,946 shares of the financial services provider's stock valued at $174,000 after acquiring an additional 1,173 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Templeton Dragon Fund during the first quarter valued at approximately $100,000. Institutional investors and hedge funds own 47.20% of the company's stock.

Templeton Dragon Fund Company 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.

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