Short Interest in Templeton Emerging Markets Fund (NYSE:EMF) Drops By 45.3%

Key Points

• Short interest fell sharply in Templeton Emerging Markets Fund, dropping 45.3% in June to 26,020 shares from 47,533 shares two weeks earlier. That leaves about 0.2% of shares short sold, with a short-interest ratio of 0.8 days.
• Institutional ownership remains significant, with several hedge funds and asset managers increasing their stakes in the fund during the first quarter. Nearly 49.86% of the stock is currently owned by institutional investors and hedge funds.
• The fund raised its dividend to $0.24 per share quarterly, up from $0.22 previously, giving it an annualized payout of $0.96 and a 4.3% yield. The stock recently traded at $22.21, below its 52-week high of $24.70 but above its 52-week low of $14.10.

Templeton Emerging Markets Fund (NYSE:EMF - Get Free Report) was the target of a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 26,020 shares, a drop of 45.3% from the June 15th total of 47,533 shares. Based on an average trading volume of 32,783 shares, the short-interest ratio is presently 0.8 days. Approximately 0.2% of the shares of the company are short sold.

Hedge Funds Weigh In On Templeton Emerging Markets Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada grew its holdings in Templeton Emerging Markets Fund by 56.5% in the 1st quarter. Royal Bank of Canada now owns 24,111 shares of the financial services provider's stock worth $422,000 after buying an additional 8,707 shares in the last quarter. Cetera Investment Advisers raised its stake in Templeton Emerging Markets Fund by 3.5% during the 1st quarter. Cetera Investment Advisers now owns 22,096 shares of the financial services provider's stock valued at $386,000 after acquiring an additional 754 shares in the last quarter. First Trust Advisors LP boosted its position in Templeton Emerging Markets Fund by 55.6% during the 1st quarter. First Trust Advisors LP now owns 28,319 shares of the financial services provider's stock worth $495,000 after acquiring an additional 10,116 shares during the period. Calamos Advisors LLC boosted its position in Templeton Emerging Markets Fund by 13.5% during the 1st quarter. Calamos Advisors LLC now owns 45,191 shares of the financial services provider's stock worth $790,000 after acquiring an additional 5,380 shares during the period. Finally, Fifth Third Bancorp bought a new position in shares of Templeton Emerging Markets Fund in the first quarter worth $26,000. 49.86% of the stock is currently owned by institutional investors and hedge funds.

Templeton Emerging Markets Fund Price Performance

Templeton Emerging Markets Fund stock opened at $22.21 on Wednesday. The firm has a 50-day moving average price of $22.81 and a two-hundred day moving average price of $20.35. Templeton Emerging Markets Fund has a 52-week low of $14.10 and a 52-week high of $24.70.

Templeton Emerging Markets Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.3%. This is a boost from Templeton Emerging Markets Fund's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, June 23rd.

Templeton Emerging Markets Fund Company Profile

Templeton Emerging Markets Fund NYSE: EMF is a closed-end management investment company that seeks long-term capital appreciation and income by investing primarily in equity securities of companies located in emerging market countries. Managed by Franklin Templeton Investment Management, the fund employs a bottom-up, fundamental research approach to identify undervalued opportunities across local stock exchanges. Its emerging markets mandate spans a diverse range of industries, enabling investors to participate in the growth potential of developing economies.

The fund’s portfolio typically includes common stocks of issuers based in regions such as Asia, Latin America, Eastern Europe, the Middle East and Africa.

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