Templeton Dragon Fund, Inc. (NYSE:TDF) Sees Significant Drop in Short Interest

Templeton Dragon Fund, Inc. (NYSE:TDF) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 7,016 shares, a drop of 55.5% from the August 31st total of 15,760 shares. Based on an average daily volume of 44,938 shares, the short-interest ratio is currently 0.2 days. Currently, 0.0% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC purchased a new position in Templeton Dragon Fund in the 2nd quarter valued at approximately $184,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Templeton Dragon Fund in the second quarter valued at $6,574,000. Bank of America Corp DE acquired a new stake in shares of Templeton Dragon Fund in the second quarter valued at $3,107,000. 180 Wealth Advisors LLC boosted its holdings in Templeton Dragon Fund by 5.3% in the second quarter. 180 Wealth Advisors LLC now owns 329,251 shares of the financial services provider’s stock valued at $3,586,000 after purchasing an additional 16,590 shares during the period. Finally, Royal Bank of Canada grew its stake in Templeton Dragon Fund by 29.0% during the 1st quarter. Royal Bank of Canada now owns 4,450 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 47.20% of the company’s stock.

Templeton Dragon Fund Trading Down 1.2%

Shares of TDF traded down $0.12 during midday trading on Monday, hitting $9.67. 57,479 shares of the stock were exchanged, compared to its average volume of 71,964. Templeton Dragon Fund has a 52-week low of $9.67 and a 52-week high of $12.20. The stock has a fifty day simple moving average of $10.65 and a 200 day simple moving average of $10.86.

Templeton Dragon Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 23rd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend is Wednesday, September 23rd.

About Templeton Dragon Fund

Templeton Dragon Fund, Inc is a closed-end investment company that seeks long-term capital appreciation by investing primarily in equity securities of companies connected to the People’s Republic of China. The fund’s portfolio may include companies domiciled in mainland China as well as businesses listed or operating in other markets that derive a substantial portion of their revenues or assets from China.

The fund provides investors with access to a diversified portfolio of Chinese companies across multiple industries.