Templeton Dragon Fund, Inc. (NYSE:TDF) Sees Large Decrease in Short Interest

Key Points

• Short interest fell sharply in Templeton Dragon Fund, dropping 40.7% in June to 6,339 shares, with only about 0.0% of shares sold short.
• The stock traded down 0.2% to $10.91, staying near its 50-day moving average of $10.97 and below its 200-day average of $11.21.
• The fund raised its quarterly dividend to $0.15 per share from $0.10, implying an annualized payout of $0.60 and a dividend yield of 5.5%.

Templeton Dragon Fund, Inc. (NYSE:TDF - Get Free Report) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 6,339 shares, a decline of 40.7% from the June 15th total of 10,684 shares. Based on an average daily volume of 87,381 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company's shares are sold short.

Templeton Dragon Fund Trading Down 0.2%

NYSE TDF traded down $0.02 on Thursday, hitting $10.91. The company's stock had a trading volume of 30,766 shares, compared to its average volume of 81,019. Templeton Dragon Fund has a 52-week low of $10.02 and a 52-week high of $12.20. The company's 50-day simple moving average is $10.97 and its 200 day simple moving average is $11.21.

Templeton Dragon Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd were issued a dividend of $0.15 per share. This is a boost from Templeton Dragon Fund's previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, June 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.5%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Royal Bank of Canada boosted its stake in Templeton Dragon Fund by 29.0% during the first quarter. Royal Bank of Canada now owns 4,450 shares of the financial services provider's stock worth $48,000 after acquiring an additional 1,000 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Templeton Dragon Fund during the fourth quarter valued at approximately $51,000. Ameriprise Financial Inc. bought a new position in shares of Templeton Dragon Fund during the third quarter valued at approximately $144,000. XTX Topco Ltd purchased a new position in shares of Templeton Dragon Fund during the fourth quarter valued at approximately $147,000. Finally, Quantedge Capital Pte Ltd lifted its holdings in shares of Templeton Dragon Fund by 10.3% during 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. 47.20% of the stock is currently owned by institutional investors.

Templeton Dragon Fund Company Profile

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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