Templeton Emerging Markets Fund (NYSE:EMF) Sees Significant Decline in Short Interest

Key Points

• The Templeton Emerging Markets Fund (NYSE:EMF) experienced a significant 52.3% decrease in short interest during August, dropping from 19,300 to 9,200 shares.
• The fund recently announced a quarterly dividend of $0.22 per share, to be paid on September 30th, representing an annualized yield of 5.5%.
• Institutional investors own approximately 49.86% of the fund, with notable investments from Bank of America and City of London Investment Management increasing their stakes recently.

Templeton Emerging Markets Fund (NYSE:EMF - ) was the target of a large drop in short interest during the month of August. As of August 31st, there was short interest totaling 9,200 shares, a drop of 52.3% from the August 15th total of 19,300 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 18,300 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 18,300 shares, the short-interest ratio is presently 0.5 days. Currently, 0.1% of the shares of the company are short sold.

Templeton Emerging Markets Fund Price Performance

NYSE:EMF opened at $16.00 on Friday. The stock has a 50 day simple moving average of $15.20 and a 200 day simple moving average of $13.89. Templeton Emerging Markets Fund has a 1-year low of $11.14 and a 1-year high of $16.10.

Templeton Emerging Markets Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Thursday, September 18th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.88 annualized dividend and a yield of 5.5%.

Hedge Funds Weigh In On Templeton Emerging Markets Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in Templeton Emerging Markets Fund by 12.2% in the 2nd quarter. Bank of America Corp DE now owns 372,093 shares of the financial services provider's stock valued at $5,429,000 after acquiring an additional 40,577 shares in the last quarter. Baltimore Washington Financial Advisors Inc. bought a new position in shares of Templeton Emerging Markets Fund in the 2nd quarter valued at $278,000. Traub Capital Management LLC bought a new position in shares of Templeton Emerging Markets Fund in the 2nd quarter valued at $1,151,000. City of London Investment Management Co. Ltd. increased its stake in shares of Templeton Emerging Markets Fund by 3.8% in the 2nd quarter. City of London Investment Management Co. Ltd. now owns 3,959,215 shares of the financial services provider's stock valued at $57,765,000 after purchasing an additional 143,320 shares during the last quarter. Finally, Shaker Financial Services LLC increased its stake in shares of Templeton Emerging Markets Fund by 12.0% in the 2nd quarter. Shaker Financial Services LLC now owns 56,592 shares of the financial services provider's stock valued at $826,000 after purchasing an additional 6,077 shares during the last quarter. 49.86% of the stock is owned by institutional investors and hedge funds.

About Templeton Emerging Markets Fund

Templeton Emerging Markets Fund is a closed-ended equity mutual fund launched by Franklin Resources Inc The fund is managed by Templeton Asset Management Ltd. It invests in the public equity markets of emerging market countries across the globe. The fund seeks to invest in stocks of companies operating across diversified sectors.

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