Templeton Emerging Markets Income Fund (NYSE:TEI – Get Free Report) shot up 1.4% during mid-day trading on Friday. The company traded as high as $6.20 and last traded at $6.1940. 124,955 shares were traded during trading, a decline of 32% from the average session volume of 184,386 shares. The stock had previously closed at $6.11.
Templeton Emerging Markets Income Fund Price Performance
The stock has a fifty day simple moving average of $6.56 and a 200-day simple moving average of $6.50.
Hedge Funds Weigh In On Templeton Emerging Markets Income Fund
A number of hedge funds have recently bought and sold shares of TEI. Fifth Third Bancorp acquired a new position in shares of Templeton Emerging Markets Income Fund during the 1st quarter worth approximately $32,000. Noble Wealth Management PBC lifted its stake in shares of Templeton Emerging Markets Income Fund by 49.2% in the second quarter. Noble Wealth Management PBC now owns 10,825 shares of the company’s stock worth $73,000 after buying an additional 3,570 shares in the last quarter. Pacific Wealth Strategies Group Inc. purchased a new position in Templeton Emerging Markets Income Fund in the 1st quarter worth approximately $96,000. Readystate Asset Management LP purchased a new position in Templeton Emerging Markets Income Fund during the second quarter worth approximately $100,000. Finally, Nwam LLC boosted its position in shares of Templeton Emerging Markets Income Fund by 42.3% during the 1st quarter. Nwam LLC now owns 26,005 shares of the company’s stock valued at $156,000 after acquiring an additional 7,726 shares during the last quarter.
About Templeton Emerging Markets Income Fund
Templeton Emerging Markets Income Fund (NYSE: TEI) is a closed-end investment fund managed by Franklin Advisers, Inc, part of Franklin Templeton. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.
TEI invests primarily in debt securities issued by governments, government-related entities and companies in emerging-market countries. Its portfolio may include sovereign and corporate bonds denominated in both local currencies and major international currencies, allowing the fund to gain exposure to emerging-market fixed-income markets across different regions.
The fund was established in 1986 and provides investors with professionally managed exposure to emerging-market economies and credit markets.
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