Templeton Dragon Fund (NYSE:TDF) Stock Price Down 0.4% – Here’s Why

Templeton Dragon Fund, Inc. (NYSE:TDF)’s share price traded down 0.4% during mid-day trading on Thursday . The company traded as low as $10.40 and last traded at $10.61. 70,364 shares traded hands during mid-day trading, an increase of 5% from the average session volume of 67,005 shares. The stock had previously closed at $10.65.

Templeton Dragon Fund Stock Down 0.4%

The business’s 50 day moving average is $11.13 and its 200-day moving average is $11.29.

Templeton Dragon Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be paid a $0.15 dividend. This is an increase from Templeton Dragon Fund’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Tuesday, June 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC lifted its stake in Templeton Dragon Fund by 1.5% in the fourth quarter. Lazard Asset Management LLC now owns 2,835,608 shares of the financial services provider’s stock worth $31,929,000 after acquiring an additional 41,989 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Templeton Dragon Fund by 14.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,942,433 shares of the financial services provider’s stock worth $20,609,000 after acquiring an additional 238,581 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Templeton Dragon Fund by 4.9% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,533,862 shares of the financial services provider’s stock worth $17,271,000 after purchasing an additional 72,188 shares in the last quarter. Uncommon Cents Investing LLC raised its holdings in Templeton Dragon Fund by 1.0% during the fourth quarter. Uncommon Cents Investing LLC now owns 535,375 shares of the financial services provider’s stock worth $6,028,000 after purchasing an additional 5,465 shares in the last quarter. Finally, 180 Wealth Advisors LLC raised its holdings in Templeton Dragon Fund by 5.1% during the first quarter. 180 Wealth Advisors LLC now owns 312,661 shares of the financial services provider’s stock worth $3,317,000 after purchasing an additional 15,084 shares in the last quarter. Hedge funds and other institutional investors own 47.20% of the company’s stock.

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.