Templeton Emerging Markets Income Fund (NYSE:TEI) Stock Jumps 0.6% – Here’s Why

Templeton Emerging Markets Income Fund (NYSE:TEI)’s share price rose 0.6% during mid-day trading on Friday. The company traded as high as $6.15 and last traded at $6.1340. 83,025 shares changed hands during trading, a decline of 55% from the average session volume of 182,735 shares. The stock had previously closed at $6.10.

Templeton Emerging Markets Income Fund Trading Up 0.6%

The business’s fifty day simple moving average is $6.31 and its 200 day simple moving average is $6.50.

Templeton Emerging Markets Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 23rd will be issued a $0.0615 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 12.0%. The ex-dividend date is Wednesday, December 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Csenge Advisory Group raised its stake in Templeton Emerging Markets Income Fund by 15.9% in the 3rd quarter. Csenge Advisory Group now owns 18,762 shares of the company’s stock valued at $115,000 after acquiring an additional 2,567 shares during the period. B. Riley Wealth Advisors Inc. increased its holdings in shares of Templeton Emerging Markets Income Fund by 6.6% in the third quarter. B. Riley Wealth Advisors Inc. now owns 48,854 shares of the company’s stock valued at $300,000 after purchasing an additional 3,030 shares during the last quarter. Kaizen Financial Strategies increased its holdings in shares of Templeton Emerging Markets Income Fund by 1.8% in the first quarter. Kaizen Financial Strategies now owns 174,506 shares of the company’s stock valued at $1,157,000 after purchasing an additional 3,126 shares during the last quarter. Noble Wealth Management PBC raised its position in shares of Templeton Emerging Markets Income Fund by 49.2% in the second quarter. Noble Wealth Management PBC now owns 10,825 shares of the company’s stock valued at $73,000 after purchasing an additional 3,570 shares during the period. Finally, HighTower Advisors LLC raised its position in shares of Templeton Emerging Markets Income Fund by 0.8% in the second quarter. HighTower Advisors LLC now owns 514,203 shares of the company’s stock valued at $3,466,000 after purchasing an additional 3,920 shares during the period.

Templeton Emerging Markets Income Fund Company Profile

Templeton Emerging Markets Income Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol TEI. The fund is part of the Franklin Templeton family of investment products and is managed by investment professionals within the organization.

The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective. It invests primarily in debt securities issued by governments, government-related entities and companies in emerging-market countries.