Templeton Dragon Fund (NYSE:TDF) Share Price Crosses Above Fifty Day Moving Average – Here’s What Happened

Templeton Dragon Fund, Inc. (NYSE:TDF)’s share price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $10.80 and traded as high as $11.05. Templeton Dragon Fund shares last traded at $10.90, with a volume of 25,897 shares trading hands.

Templeton Dragon Fund Stock Performance

The business has a 50 day simple moving average of $10.80 and a 200 day simple moving average of $11.13.

Templeton Dragon Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were 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 5.5%. The ex-dividend date was Tuesday, June 23rd.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in Templeton Dragon Fund by 14.3% during the 2nd quarter. Bank of America Corp DE now owns 248,420 shares of the financial services provider’s stock worth $2,482,000 after acquiring an additional 31,170 shares during the period. Ameriprise Financial Inc. purchased a new stake in shares of Templeton Dragon Fund in the third quarter valued at $144,000. Flagship Harbor Advisors LLC purchased a new position in Templeton Dragon Fund in the 4th quarter valued at about $51,000. Wolverine Asset Management LLC purchased a new position in shares of Templeton Dragon Fund during the fourth quarter valued at approximately $694,000. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Templeton Dragon Fund by 3.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 75,865 shares of the financial services provider’s stock worth $854,000 after purchasing an additional 2,800 shares during the period. Institutional investors and hedge funds 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.