Templeton Dragon Fund (NYSE:TDF) Shares Pass Below 50 Day Moving Average – What’s Next?
by Tristan Rich · The Markets DailyTempleton Dragon Fund, Inc. (NYSE:TDF – Get Free Report)’s share price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $11.64 and traded as low as $11.07. Templeton Dragon Fund shares last traded at $11.18, with a volume of 69,032 shares.
Templeton Dragon Fund Trading Down 1.2%
The stock has a 50 day moving average price of $11.64 and a two-hundred day moving average price of $11.45.
Templeton Dragon Fund Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, December 15th.
Institutional Trading of Templeton Dragon Fund
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Baltimore Washington Financial Advisors Inc. purchased a new position in shares of Templeton Dragon Fund in the second quarter worth about $228,000. Shaker Financial Services LLC grew its stake in 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 acquiring an additional 60,241 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in Templeton Dragon Fund in the 2nd quarter valued at about $576,000. Bank of America Corp DE lifted its stake in Templeton Dragon Fund by 14.3% in the 2nd quarter. Bank of America Corp DE now owns 248,420 shares of the financial services provider’s stock worth $2,482,000 after purchasing an additional 31,170 shares in the last quarter. Finally, Compound Planning Inc. lifted its stake in Templeton Dragon Fund by 3.9% in the 4th quarter. Compound Planning Inc. now owns 60,336 shares of the financial services provider’s stock worth $679,000 after purchasing an additional 2,241 shares in the last quarter. Institutional investors and hedge funds own 47.20% of the company’s stock.
Templeton Dragon Fund Company Profile
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.