Templeton Dragon Fund, Inc. (NYSE:TDF) Sees Significant Increase in Short Interest

Key Points

• Short interest nearly doubled: Templeton Dragon Fund’s short interest rose 98.9% to 12,611 shares as of July 15, representing about 0.1% of shares outstanding and a short-interest ratio of 0.2 days.
• Institutional ownership remains substantial: Several institutional investors added to or initiated positions, with institutions collectively owning 47.2% of the fund.
• Shares and dividend: TDF shares rose 1.1% to $10.69, within a 52-week range of $10.02 to $12.20. The fund increased its quarterly dividend to $0.15, implying an annualized yield of approximately 5.6%.

Templeton Dragon Fund, Inc. (NYSE:TDF - Get Free Report) saw a large increase in short interest in July. As of July 15th, there was short interest totaling 12,611 shares, an increase of 98.9% from the June 30th total of 6,339 shares. Approximately 0.1% of the company's stock are sold short. Based on an average daily volume of 72,210 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Templeton Dragon Fund

A number of institutional investors and hedge funds have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in shares of 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 valued at $48,000 after purchasing an additional 1,000 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in Templeton Dragon Fund in the 4th quarter worth about $51,000. Ameriprise Financial Inc. purchased a new position in Templeton Dragon Fund in the 3rd quarter worth about $144,000. XTX Topco Ltd bought a new position in Templeton Dragon Fund during the 4th quarter valued at about $147,000. Finally, Quantedge Capital Pte Ltd boosted its holdings in shares of Templeton Dragon Fund by 10.3% during the 1st quarter. Quantedge Capital Pte Ltd now owns 41,716 shares of the financial services provider's stock valued at $443,000 after acquiring an additional 3,900 shares during the last quarter. Institutional investors own 47.20% of the company's stock.

Templeton Dragon Fund Trading Up 1.1%

Shares of NYSE TDF traded up $0.12 during midday trading on Wednesday, hitting $10.69. The stock had a trading volume of 57,020 shares, compared to its average volume of 79,463. The business's 50 day moving average is $10.84 and its 200-day moving average is $11.16. Templeton Dragon Fund has a 52 week low of $10.02 and a 52 week high of $12.20.

Templeton Dragon Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a $0.15 dividend. This is a boost from Templeton Dragon Fund's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $0.60 annualized dividend and a yield of 5.6%.

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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