Templeton Dragon Fund (NYSE:TDF) Shares Down 0.4% – Here’s Why

Templeton Dragon Fund, Inc. (NYSE:TDF)’s share price fell 0.4% during mid-day trading on Thursday . The stock traded as low as $10.40 and last traded at $10.61. 70,364 shares traded hands during trading, an increase of 5% from the average session volume of 67,005 shares. The stock had previously closed at $10.65.

Templeton Dragon Fund Trading Up 1.3%

The company has a fifty day moving average of $11.13 and a 200-day moving average of $11.29.

Templeton Dragon Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be given a $0.15 dividend. This is an increase from Templeton Dragon Fund’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, June 23rd.

Institutional Trading of Templeton Dragon Fund

Large investors have recently bought and sold shares of the company. Wolverine Asset Management LLC purchased a new stake in Templeton Dragon Fund in the fourth quarter worth $694,000. 1607 Capital Partners LLC increased its position in Templeton Dragon Fund by 111.2% in the third quarter. 1607 Capital Partners LLC now owns 108,318 shares of the financial services provider’s stock worth $1,262,000 after buying an additional 57,033 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Templeton Dragon Fund in the fourth quarter worth $51,000. Uncommon Cents Investing LLC increased its position in Templeton Dragon Fund by 1.0% in the fourth quarter. Uncommon Cents Investing LLC now owns 535,375 shares of the financial services provider’s stock worth $6,028,000 after buying an additional 5,465 shares during the last quarter. Finally, 180 Wealth Advisors LLC increased its position in Templeton Dragon Fund by 14.4% in the fourth quarter. 180 Wealth Advisors LLC now owns 297,577 shares of the financial services provider’s stock worth $3,351,000 after buying an additional 37,445 shares during the last quarter. 47.20% of the stock is owned by hedge funds and other institutional investors.

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.