Templeton Emerging Markets Fund (NYSE:EMF) Sees Significant Decline in Short Interest

Templeton Emerging Markets Fund (NYSE:EMF) was the target of a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 26,020 shares, a decline of 45.3% from the June 15th total of 47,533 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 32,783 shares, the days-to-cover ratio is currently 0.8 days.

Templeton Emerging Markets Fund Stock Down 2.2%

EMF stock traded down $0.46 during trading hours on Friday, hitting $21.11. 24,295 shares of the stock were exchanged, compared to its average volume of 58,130. The company has a 50-day simple moving average of $22.81 and a two-hundred day simple moving average of $20.43. Templeton Emerging Markets Fund has a 12 month low of $14.10 and a 12 month high of $24.70.

Templeton Emerging Markets Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 4.5%. This is a boost from Templeton Emerging Markets Fund’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, June 23rd.

Hedge Funds Weigh In On Templeton Emerging Markets Fund

Hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp bought a new stake in Templeton Emerging Markets Fund in the 1st quarter valued at about $26,000. Murphy Middleton Hinkle & Parker Inc. acquired a new position in shares of Templeton Emerging Markets Fund during the 4th quarter worth approximately $51,000. AQR Capital Management LLC bought a new position in shares of Templeton Emerging Markets Fund during the first quarter worth approximately $140,000. Royal Bank of Canada increased its holdings in shares of Templeton Emerging Markets Fund by 8.3% during the fourth quarter. Royal Bank of Canada now owns 15,404 shares of the financial services provider’s stock worth $262,000 after purchasing an additional 1,178 shares during the period. Finally, Closed End Fund Advisors Inc. acquired a new stake in shares of Templeton Emerging Markets Fund in the fourth quarter valued at approximately $306,000. 49.86% of the stock is owned by institutional investors.

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.