Templeton Dragon Fund (NYSE:TDF) Trading 1% Higher – Here’s What Happened

Templeton Dragon Fund, Inc. (NYSE:TDF) rose 1% during mid-day trading on Wednesday . The stock traded as high as $12.16 and last traded at $12.0750. Approximately 154,637 shares traded hands during trading, an increase of 22% from the average daily volume of 127,150 shares. The stock had previously closed at $11.95.

Templeton Dragon Fund Stock Up 1.0%

The firm’s 50 day simple moving average is $11.42 and its two-hundred day simple moving average is $11.22.

Templeton Dragon Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, December 15th.

Institutional Investors Weigh In On Templeton Dragon Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Uncommon Cents Investing LLC raised its position in shares of Templeton Dragon Fund by 1.0% during the fourth quarter. Uncommon Cents Investing LLC now owns 535,375 shares of the financial services provider’s stock worth $6,028,000 after purchasing an additional 5,465 shares during the period. 180 Wealth Advisors LLC increased its stake in Templeton Dragon Fund by 14.4% during the 4th quarter. 180 Wealth Advisors LLC now owns 297,577 shares of the financial services provider’s stock valued at $3,351,000 after purchasing an additional 37,445 shares in the last quarter. Bank of America Corp DE raised its holdings in Templeton Dragon Fund by 1.2% during the third quarter. Bank of America Corp DE now owns 251,503 shares of the financial services provider’s stock worth $2,930,000 after buying an additional 3,083 shares during the last quarter. Shaker Financial Services LLC raised its holdings in Templeton Dragon Fund by 61.9% during the third quarter. Shaker Financial Services LLC now owns 157,589 shares of the financial services provider’s stock worth $1,836,000 after buying an additional 60,241 shares during the last quarter. Finally, 1607 Capital Partners LLC lifted its stake in shares of 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 valued at $1,262,000 after buying an additional 57,033 shares in the last quarter. Institutional investors and hedge funds own 47.20% of the company’s stock.

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.