Templeton Dragon Fund, Inc. (NYSE:TDF) Sees Large Growth in Short Interest

Templeton Dragon Fund, Inc. (NYSE:TDF) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 9,200 shares, an increase of 1,433.3% from the June 15th total of 600 shares. Based on an average daily trading volume, of 42,700 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC increased its stake in shares of Templeton Dragon Fund by 754.3% in the 4th quarter. International Assets Investment Management LLC now owns 187,167 shares of the financial services provider’s stock valued at $1,529,000 after acquiring an additional 165,258 shares in the last quarter. Karpus Management Inc. increased its stake in Templeton Dragon Fund by 61.6% in the fourth quarter. Karpus Management Inc. now owns 358,089 shares of the financial services provider’s stock valued at $2,926,000 after purchasing an additional 136,499 shares in the last quarter. Quarry LP acquired a new position in shares of Templeton Dragon Fund during the fourth quarter valued at about $309,000. PNC Financial Services Group Inc. boosted its position in shares of Templeton Dragon Fund by 336.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 11,732 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 9,042 shares in the last quarter. Finally, Uncommon Cents Investing LLC grew its stake in shares of Templeton Dragon Fund by 0.3% in the 1st quarter. Uncommon Cents Investing LLC now owns 478,461 shares of the financial services provider’s stock valued at $3,761,000 after buying an additional 1,450 shares during the period. 47.20% of the stock is owned by institutional investors.

Templeton Dragon Fund Price Performance

Shares of Templeton Dragon Fund stock traded up $0.05 during midday trading on Friday, reaching $8.19. The company had a trading volume of 52,693 shares, compared to its average volume of 55,613. The stock has a fifty day moving average price of $8.28 and a 200 day moving average price of $7.98. Templeton Dragon Fund has a fifty-two week low of $7.15 and a fifty-two week high of $10.13.

Templeton Dragon Fund Company Profile

Templeton Dragon Fund, Inc is a closed ended equity mutual fund launched by Franklin Resources, Inc The fund is managed by Templeton Asset Management Ltd. It invests in the public equity markets of China. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in value stocks of companies.