Short Interest in Templeton Dragon Fund, Inc. (NYSE:TDF) Decreases By 46.9%

Templeton Dragon Fund, Inc. (NYSE:TDF) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 9,300 shares, a decrease of 46.9% from the August 31st total of 17,500 shares. Based on an average daily trading volume, of 41,900 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On Templeton Dragon Fund

Several institutional investors have recently made changes to their positions in TDF. City of London Investment Management Co. Ltd. lifted its position in Templeton Dragon Fund by 4.5% in the first quarter. City of London Investment Management Co. Ltd. now owns 8,290,745 shares of the financial services provider’s stock worth $65,165,000 after buying an additional 356,761 shares during the last quarter. Karpus Management Inc. grew its stake in Templeton Dragon Fund by 64.0% in the first quarter. Karpus Management Inc. now owns 587,135 shares of the financial services provider’s stock valued at $4,615,000 after purchasing an additional 229,046 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Templeton Dragon Fund by 6.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,185,826 shares of the financial services provider’s stock worth $17,530,000 after acquiring an additional 127,682 shares during the last quarter. Wolverine Asset Management LLC grew its stake in shares of Templeton Dragon Fund by 1,622.4% during the second quarter. Wolverine Asset Management LLC now owns 65,107 shares of the financial services provider’s stock worth $522,000 after acquiring an additional 61,327 shares during the last quarter. Finally, Quarry LP purchased a new stake in shares of Templeton Dragon Fund during the fourth quarter worth about $309,000. Institutional investors own 47.20% of the company’s stock.

Templeton Dragon Fund Stock Performance

Templeton Dragon Fund stock traded up $0.61 during mid-day trading on Thursday, reaching $8.86. The stock had a trading volume of 232,480 shares, compared to its average volume of 52,975. The company has a 50-day moving average price of $7.81 and a two-hundred day moving average price of $8.02. Templeton Dragon Fund has a one year low of $7.15 and a one year high of $9.15.

Templeton Dragon Fund Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.1155 dividend. This represents a dividend yield of 3%. The ex-dividend date of this dividend was Monday, August 19th.

About Templeton Dragon Fund

Templeton Dragon Fund, Inc is a closed ended equity mutual fund launched by Franklin Resources, Inc The fund is managed by Templeton Asset Management Ltd. It invests in the public equity markets of China. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in value stocks of companies.