Templeton Dragon Fund (NYSE:TDF) Share Price Passes Below 50-Day Moving Average – Here’s What Happened

Templeton Dragon Fund, Inc. (NYSE:TDF)’s share price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $11.64 and traded as low as $11.07. Templeton Dragon Fund shares last traded at $11.18, with a volume of 69,032 shares changing hands.

Templeton Dragon Fund Stock Performance

The stock’s 50 day moving average is $11.64 and its two-hundred day moving average is $11.46.

Templeton Dragon Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a dividend of $0.10 per share. The ex-dividend date was Monday, December 15th. This represents a $0.40 annualized dividend and a dividend yield of 3.6%.

Hedge Funds Weigh In On Templeton Dragon Fund

Several institutional investors have recently added to or reduced their stakes in TDF. Flagship Harbor Advisors LLC purchased a new stake in Templeton Dragon Fund during the 4th quarter valued at approximately $51,000. Ameriprise Financial Inc. acquired a new position in shares of Templeton Dragon Fund in the third quarter valued at approximately $144,000. XTX Topco Ltd purchased a new stake in shares of Templeton Dragon Fund during the fourth quarter worth approximately $147,000. Baltimore Washington Financial Advisors Inc. acquired a new stake in shares of Templeton Dragon Fund during the second quarter worth $228,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Templeton Dragon Fund during the second quarter worth $576,000. 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.