Short Interest in Templeton Dragon Fund, Inc. (NYSE:TDF) Rises By 109.0%

Key Points

• Short interest in Templeton Dragon Fund, Inc. increased by 109.0% in August, totaling 30,100 shares as of August 31st, indicating a notable rise in bearish sentiment.
• Hedge funds and institutional investors currently own 47.20% of the fund, with recent purchases totaling over $479,000 from various investors in the last few quarters.
• The company declared a quarterly dividend of $0.10 per share, resulting in an annualized yield of 3.5%, with payment scheduled for September 30th.

Templeton Dragon Fund, Inc. (NYSE:TDF - ) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 30,100 shares, an increase of 109.0% from the August 15th total of 14,400 shares. Currently, 0.1% of the company's shares are sold short. Based on an average trading volume of 40,200 shares, the days-to-cover ratio is presently 0.7 days. Based on an average trading volume of 40,200 shares, the days-to-cover ratio is presently 0.7 days. Currently, 0.1% of the company's shares are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Elequin Capital LP purchased a new position in shares of Templeton Dragon Fund during the fourth quarter worth $38,000. XTX Topco Ltd purchased a new position in shares of Templeton Dragon Fund during the first quarter worth $100,000. Diversified Enterprises LLC purchased a new position in shares of Templeton Dragon Fund during the second quarter worth $113,000. Dakota Wealth Management boosted its position 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 worth $174,000 after buying an additional 1,173 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. purchased a new position in shares of Templeton Dragon Fund during the second quarter worth $228,000. 47.20% of the stock is currently owned by hedge funds and other institutional investors.

Templeton Dragon Fund Trading Down 0.1%

Shares of TDF traded down $0.01 during midday trading on Friday, hitting $11.53. 98,055 shares of the stock were exchanged, compared to its average volume of 55,661. Templeton Dragon Fund has a 52-week low of $7.56 and a 52-week high of $11.61. The stock has a fifty day simple moving average of $10.61 and a 200 day simple moving average of $9.93.

Templeton Dragon Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Thursday, September 18th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Thursday, September 18th.

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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