Templeton Dragon Fund (NYSE:TDF) Stock Passes Above 200 Day Moving Average – What’s Next?

Shares of Templeton Dragon Fund, Inc. (NYSE:TDF) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.29 and traded as high as $11.98. Templeton Dragon Fund shares last traded at $11.91, with a volume of 113,821 shares trading hands.

Templeton Dragon Fund Price Performance

The firm has a 50 day moving average of $11.52 and a 200-day moving average of $11.29.

Templeton Dragon Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Monday, December 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Uncommon Cents Investing LLC increased its stake in Templeton Dragon Fund by 0.3% in the 3rd quarter. Uncommon Cents Investing LLC now owns 529,910 shares of the financial services provider’s stock valued at $6,173,000 after buying an additional 1,670 shares during the period. Bank of America Corp DE grew its holdings in shares of Templeton Dragon Fund by 1.2% during the 3rd quarter. Bank of America Corp DE now owns 251,503 shares of the financial services provider’s stock valued at $2,930,000 after acquiring an additional 3,083 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of Templeton Dragon Fund during the 4th quarter valued at $51,000. Ameriprise Financial Inc. acquired a new position in shares of Templeton Dragon Fund in the third quarter worth $144,000. Finally, 180 Wealth Advisors LLC raised its holdings in shares of Templeton Dragon Fund by 5.7% during the third quarter. 180 Wealth Advisors LLC now owns 260,132 shares of the financial services provider’s stock worth $3,031,000 after acquiring an additional 14,040 shares in the last quarter. 47.20% of the stock is owned by hedge funds and other 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.