Templeton Emerging Markets Fund (NYSE:EMF) Stock Passes Above Fifty Day Moving Average – Here’s What Happened

Shares of Templeton Emerging Markets Fund (NYSE:EMF) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $22.30 and traded as high as $22.51. Templeton Emerging Markets Fund shares last traded at $22.2180, with a volume of 24,614 shares trading hands.

Templeton Emerging Markets Fund Trading Up 0.2%

The firm’s fifty day moving average price is $22.30 and its 200-day moving average price is $20.89.

Templeton Emerging Markets 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 $0.24 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.96 annualized dividend and a yield of 4.3%. This is a boost from Templeton Emerging Markets Fund’s previous quarterly dividend of $0.22.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE grew its position in Templeton Emerging Markets Fund by 12.2% in the 2nd quarter. Bank of America Corp DE now owns 372,093 shares of the financial services provider’s stock worth $5,429,000 after purchasing an additional 40,577 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Templeton Emerging Markets Fund by 142.5% in the third quarter. Lazard Asset Management LLC now owns 276,278 shares of the financial services provider’s stock valued at $4,625,000 after purchasing an additional 162,366 shares during the period. Beacon Pointe Advisors LLC bought a new stake in shares of Templeton Emerging Markets Fund during the fourth quarter valued at approximately $3,463,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Templeton Emerging Markets Fund by 358.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 133,417 shares of the financial services provider’s stock valued at $2,272,000 after buying an additional 104,325 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Templeton Emerging Markets Fund during the third quarter worth approximately $1,054,000. 49.86% of the stock is owned by institutional investors and hedge funds.

About Templeton Emerging Markets Fund

Templeton Emerging Markets Fund (NYSE:EMF) is a closed-end management investment company that seeks long-term capital appreciation and income by investing primarily in equity securities of companies located in emerging market countries. Managed by Franklin Templeton Investment Management, the fund employs a bottom-up, fundamental research approach to identify undervalued opportunities across local stock exchanges. Its emerging markets mandate spans a diverse range of industries, enabling investors to participate in the growth potential of developing economies.

The fund’s portfolio typically includes common stocks of issuers based in regions such as Asia, Latin America, Eastern Europe, the Middle East and Africa.