Templeton Emerging Markets Fund (NYSE:EMF) Sees Large Decrease in Short Interest

Templeton Emerging Markets Fund (NYSE:EMF) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 27,963 shares, a decline of 59.4% from the April 30th total of 68,871 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 42,613 shares, the short-interest ratio is currently 0.7 days.

Templeton Emerging Markets Fund Stock Up 3.3%

Shares of NYSE:EMF opened at $24.02 on Tuesday. Templeton Emerging Markets Fund has a 12-month low of $13.44 and a 12-month high of $24.25. The business’s 50 day moving average is $20.26 and its 200 day moving average is $19.01.

Templeton Emerging Markets Fund Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Tuesday, June 23rd. This is a positive change from Templeton Emerging Markets Fund’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 4.0%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EMF. AQR Capital Management LLC purchased a new position in shares of Templeton Emerging Markets Fund during the first quarter valued at approximately $140,000. Bank of America Corp DE boosted its position in Templeton Emerging Markets Fund by 12.2% in the second quarter. Bank of America Corp DE now owns 372,093 shares of the financial services provider’s stock worth $5,429,000 after purchasing an additional 40,577 shares during the last quarter. Flagship Harbor Advisors LLC boosted its position in Templeton Emerging Markets Fund by 1.0% in the third quarter. Flagship Harbor Advisors LLC now owns 129,555 shares of the financial services provider’s stock worth $2,169,000 after purchasing an additional 1,310 shares during the last quarter. Lazard Asset Management LLC boosted its position in Templeton Emerging Markets Fund by 142.5% in the third quarter. Lazard Asset Management LLC now owns 276,278 shares of the financial services provider’s stock worth $4,625,000 after purchasing an additional 162,366 shares during the last quarter. Finally, City of London Investment Management Co. Ltd. boosted its position in Templeton Emerging Markets Fund by 5.4% in the third quarter. City of London Investment Management Co. Ltd. now owns 4,171,496 shares of the financial services provider’s stock worth $69,831,000 after purchasing an additional 212,281 shares during the last quarter. Hedge funds and other institutional investors own 49.86% of the company’s stock.

About Templeton Emerging Markets Fund

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.