Templeton Emerging Markets Income Fund (NYSE:TEI) Stock Jumps 0.6% – Here’s What Happened

Templeton Emerging Markets Income Fund (NYSE:TEI)’s share price shot up 0.6% during trading on Friday. The stock traded as high as $6.15 and last traded at $6.1340. Approximately 83,025 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 182,735 shares. The stock had previously closed at $6.10.

Templeton Emerging Markets Income Fund Stock Performance

The stock has a 50 day simple moving average of $6.31 and a 200 day simple moving average of $6.50.

Templeton Emerging Markets Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Wednesday, December 23rd will be given a dividend of $0.0615 per share. The ex-dividend date of this dividend is Wednesday, December 23rd. This represents a $0.74 dividend on an annualized basis and a dividend yield of 12.0%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TEI. Fifth Third Bancorp acquired a new stake in Templeton Emerging Markets Income Fund in the 1st quarter worth about $32,000. Noble Wealth Management PBC grew its holdings in Templeton Emerging Markets Income Fund by 49.2% during the 2nd quarter. Noble Wealth Management PBC now owns 10,825 shares of the company’s stock worth $73,000 after acquiring an additional 3,570 shares during the last quarter. Readystate Asset Management LP acquired a new stake in shares of Templeton Emerging Markets Income Fund in the second quarter valued at about $100,000. Pacific Wealth Strategies Group Inc. bought a new stake in Templeton Emerging Markets Income Fund during the first quarter valued at $96,000. Finally, Csenge Advisory Group increased its stake in shares of Templeton Emerging Markets Income Fund by 15.9% in the 3rd quarter. Csenge Advisory Group now owns 18,762 shares of the company’s stock valued at $115,000 after acquiring an additional 2,567 shares in the last quarter.

About Templeton Emerging Markets Income Fund

Templeton Emerging Markets Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol TEI. The fund is part of the Franklin Templeton family of investment products and is managed by investment professionals within the organization.

The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective. It invests primarily in debt securities issued by governments, government-related entities and companies in emerging-market countries.