Templeton Dragon Fund, Inc. (NYSE:TDF) Sees Large Decrease in Short Interest

Templeton Dragon Fund, Inc. (NYSE:TDF) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 800 shares, a drop of 95.7% from the September 30th total of 18,400 shares. Based on an average trading volume of 67,400 shares, the short-interest ratio is currently 0.0 days.

Hedge Funds Weigh In On Templeton Dragon Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in TDF. Allspring Global Investments Holdings LLC grew its stake in shares of Templeton Dragon Fund by 6.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,185,826 shares of the financial services provider’s stock worth $17,530,000 after purchasing an additional 127,682 shares during the period. City of London Investment Management Co. Ltd. boosted its position in shares of Templeton Dragon Fund by 1.6% in the 2nd quarter. City of London Investment Management Co. Ltd. now owns 8,422,882 shares of the financial services provider’s stock worth $67,552,000 after buying an additional 132,137 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Templeton Dragon Fund by 336.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 11,732 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 9,042 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in Templeton Dragon Fund by 1,622.4% during the 2nd quarter. Wolverine Asset Management LLC now owns 65,107 shares of the financial services provider’s stock valued at $522,000 after acquiring an additional 61,327 shares in the last quarter. Finally, Uncommon Cents Investing LLC raised its position in Templeton Dragon Fund by 0.3% during the first quarter. Uncommon Cents Investing LLC now owns 478,461 shares of the financial services provider’s stock worth $3,761,000 after acquiring an additional 1,450 shares during the last quarter. Hedge funds and other institutional investors own 47.20% of the company’s stock.

Templeton Dragon Fund Stock Performance

NYSE:TDF traded up $0.11 during trading hours on Friday, hitting $9.02. The company’s stock had a trading volume of 50,688 shares, compared to its average volume of 58,641. The stock has a fifty day moving average of $8.43 and a 200-day moving average of $8.22. Templeton Dragon Fund has a 52-week low of $7.15 and a 52-week high of $10.41.

Templeton Dragon Fund Cuts Dividend

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