Templeton Dragon Fund, Inc. (NYSE:TDF) Short Interest Update

Key Points

• Short interest surged 180.5% to 35,368 shares as of July 31, representing 0.1% of TDF’s shares and a 0.6-day days-to-cover ratio.
• TDF shares opened at $10.86, near their 50-day moving average of $10.77, while the stock’s 52-week range is $10.15 to $12.20.
• The fund raised its quarterly dividend to $0.15 per share, or $0.60 annualized, producing a 5.5% yield; institutional investors own 47.2% of outstanding shares.

Templeton Dragon Fund, Inc. (NYSE:TDF - Get Free Report) was the target of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 35,368 shares, an increase of 180.5% from the July 15th total of 12,611 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 59,486 shares, the days-to-cover ratio is currently 0.6 days.

Templeton Dragon Fund Stock Down 0.4%

Shares of TDF opened at $10.86 on Friday. The business's 50 day simple moving average is $10.77 and its 200-day simple moving average is $11.09. Templeton Dragon Fund has a 1 year low of $10.15 and a 1 year high of $12.20.

Templeton Dragon Fund Increases Dividend

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

Institutional Investors Weigh In On Templeton Dragon Fund

Several hedge funds and other institutional investors have recently modified their holdings of TDF. 180 Wealth Advisors LLC grew its position in Templeton Dragon Fund by 5.3% in the 2nd quarter. 180 Wealth Advisors LLC now owns 329,251 shares of the financial services provider's stock valued at $3,586,000 after acquiring an additional 16,590 shares during the last quarter. Bank of America Corp DE lifted its holdings in Templeton Dragon Fund by 10.7% during the 1st quarter. Bank of America Corp DE now owns 283,616 shares of the financial services provider's stock valued at $3,009,000 after buying an additional 27,428 shares in the last quarter. Royal Bank of Canada lifted its holdings in Templeton Dragon Fund by 29.0% during the 1st quarter. Royal Bank of Canada now owns 4,450 shares of the financial services provider's stock valued at $48,000 after buying an additional 1,000 shares in the last quarter. Compound Planning Inc. boosted its position in Templeton Dragon Fund by 11.9% in the 1st quarter. Compound Planning Inc. now owns 67,534 shares of the financial services provider's stock valued at $717,000 after buying an additional 7,198 shares during the period. Finally, Quantedge Capital Pte Ltd boosted its position in Templeton Dragon Fund by 10.3% in the 1st quarter. Quantedge Capital Pte Ltd now owns 41,716 shares of the financial services provider's stock valued at $443,000 after buying an additional 3,900 shares during the period. 47.20% of the stock is currently owned by hedge funds and other institutional investors.

About Templeton Dragon Fund

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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