Templeton Dragon Fund (NYSE:TDF) Stock Passes Above 50-Day Moving Average – What’s Next?

Templeton Dragon Fund, Inc. (NYSE:TDF)’s stock price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $10.77 and traded as high as $11.07. Templeton Dragon Fund shares last traded at $10.8550, with a volume of 49,308 shares changing hands.

Templeton Dragon Fund Trading Up 0.1%

The firm has a fifty day moving average price of $10.77 and a 200-day moving average price of $11.09.

Templeton Dragon Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd were paid a dividend of $0.15 per share. The ex-dividend date was Tuesday, June 23rd. This is a positive change from Templeton Dragon Fund’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 5.5%.

Hedge Funds Weigh In On Templeton Dragon Fund

Hedge funds have recently bought and sold shares of the company. Bank of America Corp DE raised its position in shares of Templeton Dragon Fund by 14.3% in the 2nd quarter. Bank of America Corp DE now owns 248,420 shares of the financial services provider’s stock valued at $2,482,000 after buying an additional 31,170 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in shares of Templeton Dragon Fund during the 3rd quarter worth approximately $144,000. Wolverine Asset Management LLC bought a new position in Templeton Dragon Fund in the fourth quarter valued at approximately $694,000. Commonwealth Equity Services LLC increased its stake in Templeton Dragon Fund by 3.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 75,865 shares of the financial services provider’s stock valued at $854,000 after acquiring an additional 2,800 shares during the last quarter. Finally, Cohen & Steers Inc. increased its stake in Templeton Dragon Fund by 40.0% in the fourth quarter. Cohen & Steers Inc. now owns 70,000 shares of the financial services provider’s stock valued at $788,000 after acquiring an additional 20,000 shares during the last quarter. 47.20% of the stock is owned by institutional investors.

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.