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

Templeton Dragon Fund, Inc. (NYSE:TDF) saw a significant drop in short interest in the month of May. As of May 29th, there was short interest totaling 10,922 shares, a drop of 39.2% from the May 14th total of 17,967 shares. Based on an average daily volume of 46,445 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company’s stock are sold short.

Templeton Dragon Fund Trading Up 2.0%

NYSE:TDF traded up $0.21 during mid-day trading on Monday, hitting $10.94. The company had a trading volume of 24,217 shares, compared to its average volume of 81,689. The business has a fifty day simple moving average of $11.13 and a 200-day simple moving average of $11.29. Templeton Dragon Fund has a 1 year low of $9.42 and a 1 year high of $12.20.

Templeton Dragon Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 5.5%. This is a boost from Templeton Dragon Fund’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, June 23rd.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC raised its position 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 valued at $31,929,000 after purchasing an additional 41,989 shares during the period. Allspring Global Investments Holdings LLC raised its position 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 valued at $20,609,000 after purchasing an additional 238,581 shares during the period. Public Employees Retirement System of Ohio raised its position in Templeton Dragon Fund by 4.9% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,533,862 shares of the financial services provider’s stock valued at $17,271,000 after purchasing an additional 72,188 shares during the period. Uncommon Cents Investing LLC raised its position in Templeton Dragon Fund by 1.0% in the fourth quarter. Uncommon Cents Investing LLC now owns 535,375 shares of the financial services provider’s stock valued at $6,028,000 after purchasing an additional 5,465 shares during the period. Finally, 180 Wealth Advisors LLC raised its position in Templeton Dragon Fund by 5.1% in the first quarter. 180 Wealth Advisors LLC now owns 312,661 shares of the financial services provider’s stock valued at $3,317,000 after purchasing an additional 15,084 shares during the period. 47.20% of the stock is 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.