Templeton Emerging Markets Fund (NYSE:EMF) Sees Large Drop in Short Interest

Key Points

• Short interest in Templeton Emerging Markets Fund fell 53.9% to 10,357 shares as of July 31, representing 0.1% of shares outstanding and a days-to-cover ratio of 0.2.
• Institutional investors own 49.86% of EMF, with firms including Cetera Investment Advisers, Royal Bank of Canada, and Wells Fargo increasing their holdings; several other institutions also initiated positions.
• EMF shares rose 0.2% to $22.21, while the fund increased its quarterly dividend to $0.24, equivalent to a $0.96 annualized payout and a 4.3% yield.

Templeton Emerging Markets Fund (NYSE:EMF - Get Free Report) was the target of a large decline in short interest in July. As of July 31st, there was short interest totaling 10,357 shares, a decline of 53.9% from the July 15th total of 22,467 shares. Based on an average daily volume of 48,341 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are short sold.

Institutional Investors Weigh In On Templeton Emerging Markets Fund

Several large investors have recently modified their holdings of EMF. Cetera Investment Advisers grew its holdings in shares of Templeton Emerging Markets Fund by 3.5% in the 1st quarter. Cetera Investment Advisers now owns 22,096 shares of the financial services provider's stock worth $386,000 after acquiring an additional 754 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Templeton Emerging Markets Fund by 8.3% during the fourth quarter. Royal Bank of Canada now owns 15,404 shares of the financial services provider's stock valued at $262,000 after purchasing an additional 1,178 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Templeton Emerging Markets Fund in the 1st quarter valued at $26,000. Wells Fargo & Company MN boosted its position in shares of Templeton Emerging Markets Fund by 11.5% in the 4th quarter. Wells Fargo & Company MN now owns 20,341 shares of the financial services provider's stock valued at $346,000 after purchasing an additional 2,096 shares during the period. Finally, Hara Capital LLC purchased a new position in Templeton Emerging Markets Fund in the 2nd quarter worth about $58,000. 49.86% of the stock is owned by institutional investors.

Templeton Emerging Markets Fund Trading Up 0.2%

NYSE:EMF traded up $0.04 during trading hours on Friday, reaching $22.21. 15,757 shares of the company's stock were exchanged, compared to its average volume of 38,785. Templeton Emerging Markets Fund has a 12 month low of $15.08 and a 12 month high of $24.70. The business's 50-day simple moving average is $22.31 and its two-hundred day simple moving average is $20.90.

Templeton Emerging Markets Fund Increases Dividend

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

About Templeton Emerging Markets Fund

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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