Templeton Dragon Fund, Inc. (NYSE:TDF) Short Interest Update

Templeton Dragon Fund, Inc. (NYSE:TDF) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 12,611 shares, an increase of 98.9% from the June 30th total of 6,339 shares. Based on an average daily volume of 72,210 shares, the short-interest ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are short sold.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in Templeton Dragon Fund by 29.0% during the first quarter. Royal Bank of Canada now owns 4,450 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,000 shares in the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Templeton Dragon Fund in the fourth quarter worth about $51,000. Ameriprise Financial Inc. bought a new position in shares of Templeton Dragon Fund in the third quarter worth about $144,000. XTX Topco Ltd purchased a new stake in shares of Templeton Dragon Fund during the fourth quarter worth about $147,000. Finally, Quantedge Capital Pte Ltd grew its position in shares of Templeton Dragon Fund by 10.3% during the first quarter. Quantedge Capital Pte Ltd now owns 41,716 shares of the financial services provider’s stock worth $443,000 after purchasing an additional 3,900 shares in the last quarter. 47.20% of the stock is owned by hedge funds and other institutional investors.

Templeton Dragon Fund Price Performance

TDF traded up $0.12 during mid-day trading on Wednesday, reaching $10.69. 57,020 shares of the company traded hands, compared to its average volume of 79,463. The company’s fifty day moving average price is $10.84 and its 200-day moving average price is $11.16. Templeton Dragon Fund has a 52-week low of $10.02 and a 52-week high of $12.20.

Templeton Dragon Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 5.6%. This is a boost from Templeton Dragon Fund’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, June 23rd.

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.