Templeton Emerging Markets Fund (NYSE:EMF) Stock Price Up 0.8% – Here’s Why

Templeton Emerging Markets Fund (NYSE:EMF) shot up 0.8% on Monday . The company traded as high as $17.47 and last traded at $17.35. 36,445 shares traded hands during trading, a decline of 4% from the average session volume of 37,862 shares. The stock had previously closed at $17.22.

Templeton Emerging Markets Fund Stock Performance

The firm has a 50 day moving average price of $17.09 and a 200 day moving average price of $16.14.

Templeton Emerging Markets Fund Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a dividend of $0.7763 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a yield of 526.0%.

Institutional Investors Weigh In On Templeton Emerging Markets Fund

Several hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new position in Templeton Emerging Markets Fund in the third quarter worth approximately $1,054,000. City of London Investment Management Co. Ltd. increased its holdings in shares of Templeton Emerging Markets Fund by 5.4% in the 3rd quarter. City of London Investment Management Co. Ltd. now owns 4,171,496 shares of the financial services provider’s stock valued at $69,831,000 after acquiring an additional 212,281 shares during the period. Lazard Asset Management LLC raised its position in shares of 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 worth $4,625,000 after acquiring an additional 162,366 shares in the last quarter. Flagship Harbor Advisors LLC raised its position in shares of Templeton Emerging Markets Fund by 1.0% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 129,555 shares of the financial services provider’s stock worth $2,169,000 after acquiring an additional 1,310 shares in the last quarter. Finally, Shaker Financial Services LLC lifted its stake in shares of Templeton Emerging Markets Fund by 16.4% during the 3rd quarter. Shaker Financial Services LLC now owns 65,894 shares of the financial services provider’s stock worth $1,103,000 after purchasing an additional 9,302 shares during the last quarter. Hedge funds and other institutional investors own 49.86% of the company’s stock.

Templeton Emerging Markets Fund Company Profile

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.