City of London Investment Management Co. Ltd. Sells 63,657 Shares of Templeton Dragon Fund, Inc. $TDF

City of London Investment Management Co. Ltd. lessened its holdings in shares of Templeton Dragon Fund, Inc. (NYSE:TDF) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,486,198 shares of the financial services provider’s stock after selling 63,657 shares during the period. Templeton Dragon Fund makes up 7.3% of City of London Investment Management Co. Ltd.’s holdings, making the stock its 3rd biggest position. City of London Investment Management Co. Ltd. owned approximately 33.48% of Templeton Dragon Fund worth $98,864,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Baltimore Washington Financial Advisors Inc. acquired a new stake in Templeton Dragon Fund during the 2nd quarter worth about $228,000. Shaker Financial Services LLC raised its stake in shares of Templeton Dragon Fund by 61.9% during the 3rd quarter. Shaker Financial Services LLC now owns 157,589 shares of the financial services provider’s stock valued at $1,836,000 after buying an additional 60,241 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Templeton Dragon Fund in the 2nd quarter valued at about $576,000. Bank of America Corp DE lifted its holdings in shares of Templeton Dragon Fund by 1.2% in the 3rd quarter. Bank of America Corp DE now owns 251,503 shares of the financial services provider’s stock valued at $2,930,000 after buying an additional 3,083 shares during the period. Finally, Ameriprise Financial Inc. purchased a new stake in shares of Templeton Dragon Fund in the third quarter worth about $144,000. 47.20% of the stock is currently owned by institutional investors and hedge funds.

Templeton Dragon Fund Stock Down 0.4%

Templeton Dragon Fund stock opened at $11.11 on Friday. The business’s 50-day moving average price is $11.62 and its 200 day moving average price is $11.47. Templeton Dragon Fund, Inc. has a 52 week low of $8.13 and a 52 week high of $12.20.

Templeton Dragon Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 24th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, March 24th.

About Templeton Dragon Fund

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.