Templeton Emerging Markets Income Fund (NYSE:TEI) Stock Passes Below 50-Day Moving Average – Here’s Why

Templeton Emerging Markets Income Fund (NYSE:TEI)’s share price passed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $6.39 and traded as low as $6.38. Templeton Emerging Markets Income Fund shares last traded at $6.4450, with a volume of 150,747 shares.

Templeton Emerging Markets Income Fund Trading Up 0.7%

The company’s 50 day moving average is $6.39 and its 200-day moving average is $6.49.

Templeton Emerging Markets Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 23rd will be given a $0.0475 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) annualized dividend and a dividend yield of 8.8%.

Institutional Investors Weigh In On Templeton Emerging Markets Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Pacific Wealth Strategies Group Inc. bought a new stake in shares of Templeton Emerging Markets Income Fund in the 1st quarter worth about $96,000. Nwam LLC increased its position in shares of Templeton Emerging Markets Income Fund by 42.3% in the 1st quarter. Nwam LLC now owns 26,005 shares of the company’s stock worth $156,000 after purchasing an additional 7,726 shares during the last quarter. Kaizen Financial Strategies increased its position in shares of Templeton Emerging Markets Income Fund by 1.8% in the 1st quarter. Kaizen Financial Strategies now owns 174,506 shares of the company’s stock worth $1,157,000 after purchasing an additional 3,126 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of Templeton Emerging Markets Income Fund in the 1st quarter worth about $32,000. Finally, Mason & Associates Inc bought a new stake in shares of Templeton Emerging Markets Income Fund in the 1st quarter worth about $496,000.

Templeton Emerging Markets Income Fund Company Profile

Templeton Emerging Markets Income Fund (NYSE: TEI) is a closed-end management investment company that seeks to provide high current income, with a secondary objective of capital appreciation. Launched in 2006, the fund is managed by Franklin Templeton Investment Management Limited, drawing on the firm’s extensive experience in emerging market debt and equity markets. It is listed on the New York Stock Exchange and conducts its investment operations in U.S. dollars.

The fund’s portfolio is diversified across a broad spectrum of emerging market securities, including sovereign and corporate debt instruments, dividend-paying equities, convertible securities and preferred stocks.