Templeton Dragon Fund (NYSE:TDF) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of Templeton Dragon Fund, Inc. (NYSE:TDF) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.38 and traded as high as $11.73. Templeton Dragon Fund shares last traded at $11.65, with a volume of 95,488 shares.

Templeton Dragon Fund Stock Down 0.3%

The stock has a fifty day moving average of $11.61 and a 200-day moving average of $11.39.

Templeton Dragon Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.4%.

Institutional Trading of Templeton Dragon Fund

A number of hedge funds and other institutional investors have recently modified their holdings of TDF. Uncommon Cents Investing LLC lifted its holdings in Templeton Dragon Fund by 0.3% during the 3rd quarter. Uncommon Cents Investing LLC now owns 529,910 shares of the financial services provider’s stock worth $6,173,000 after buying an additional 1,670 shares in the last quarter. Compound Planning Inc. lifted its stake in shares of Templeton Dragon Fund by 3.9% during the fourth quarter. Compound Planning Inc. now owns 60,336 shares of the financial services provider’s stock valued at $679,000 after acquiring an additional 2,241 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Templeton Dragon Fund by 3.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 75,865 shares of the financial services provider’s stock valued at $854,000 after acquiring an additional 2,800 shares during the last quarter. Bank of America Corp DE boosted its holdings in Templeton Dragon Fund by 1.2% in the third quarter. Bank of America Corp DE now owns 251,503 shares of the financial services provider’s stock valued at $2,930,000 after acquiring an additional 3,083 shares during the last quarter. Finally, Flagship Harbor Advisors LLC acquired a new stake in Templeton Dragon Fund in the fourth quarter worth about $51,000. Institutional investors and hedge funds own 47.20% of the company’s stock.

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.