Templeton Emerging Markets Fund (NYSE:EMF) Stock Price Up 2.8% – Here’s Why

Templeton Emerging Markets Fund (NYSE:EMF) was up 2.8% during trading on Friday . The stock traded as high as $20.49 and last traded at $20.50. Approximately 64,996 shares traded hands during mid-day trading, an increase of 74% from the average daily volume of 37,269 shares. The stock had previously closed at $19.94.

Templeton Emerging Markets Fund Stock Up 2.8%

The business has a fifty day moving average of $19.06 and a two-hundred day moving average of $18.18.

Templeton Emerging Markets Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Tuesday, March 24th.

Hedge Funds Weigh In On Templeton Emerging Markets Fund

Several institutional investors have recently added to or reduced their stakes in the business. City of London Investment Management Co. Ltd. lifted its position in Templeton Emerging Markets Fund by 5.4% during the third quarter. City of London Investment Management Co. Ltd. now owns 4,171,496 shares of the financial services provider’s stock worth $69,831,000 after buying an additional 212,281 shares during the period. Bank of America Corp DE grew 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 buying an additional 40,577 shares during the period. Lazard Asset Management LLC grew its holdings in Templeton Emerging Markets Fund by 142.5% in the 3rd quarter. Lazard Asset Management LLC now owns 276,278 shares of the financial services provider’s stock valued at $4,625,000 after buying an additional 162,366 shares during the period. Beacon Pointe Advisors LLC purchased a new stake in Templeton Emerging Markets Fund in the 4th quarter valued at about $3,463,000. Finally, Uncommon Cents Investing LLC lifted its holdings in shares of Templeton Emerging Markets Fund by 1.2% during the 4th quarter. Uncommon Cents Investing LLC now owns 157,428 shares of the financial services provider’s stock worth $2,681,000 after acquiring an additional 1,820 shares during the period. 49.86% of the stock is currently owned by institutional investors and hedge funds.

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.