Templeton Emerging Markets Income Fund (NYSE:TEI) Shares Pass Below 50-Day Moving Average – Here’s Why

Templeton Emerging Markets Income Fund (NYSE:TEI)’s stock price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $6.41 and traded as low as $6.28. Templeton Emerging Markets Income Fund shares last traded at $6.4750, with a volume of 140,052 shares trading hands.

Templeton Emerging Markets Income Fund Stock Up 0.9%

The stock’s fifty day simple moving average is $6.41 and its 200-day simple moving average is $6.48.

Templeton Emerging Markets Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 23rd will be issued a $0.0475 dividend. The ex-dividend date of this dividend is Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a dividend yield of 8.8%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Evergreen Capital Management LLC raised its holdings in shares of Templeton Emerging Markets Income Fund by 0.9% in the fourth quarter. Evergreen Capital Management LLC now owns 3,079,241 shares of the company’s stock worth $19,861,000 after buying an additional 26,106 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Templeton Emerging Markets Income Fund by 1.8% in the second quarter. Invesco Ltd. now owns 879,198 shares of the company’s stock worth $5,275,000 after buying an additional 15,727 shares during the last quarter. LPL Financial LLC raised its holdings in shares of Templeton Emerging Markets Income Fund by 8.5% in the fourth quarter. LPL Financial LLC now owns 557,610 shares of the company’s stock worth $3,597,000 after buying an additional 43,562 shares during the last quarter. Rareview Capital LLC raised its holdings in shares of Templeton Emerging Markets Income Fund by 9.6% in the first quarter. Rareview Capital LLC now owns 551,585 shares of the company’s stock worth $3,310,000 after buying an additional 48,514 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. raised its holdings in shares of Templeton Emerging Markets Income Fund by 4.0% in the fourth quarter. Pekin Hardy Strauss Inc. now owns 412,810 shares of the company’s stock worth $2,663,000 after buying an additional 15,750 shares during the last quarter.

About Templeton Emerging Markets Income Fund

Templeton Emerging Markets Income Fund (NYSE: TEI) is a closed-end management investment company that seeks to provide high current income, with a secondary objective of capital appreciation. Launched in 2006, the fund is managed by Franklin Templeton Investment Management Limited, drawing on the firm’s extensive experience in emerging market debt and equity markets. It is listed on the New York Stock Exchange and conducts its investment operations in U.S. dollars.

The fund’s portfolio is diversified across a broad spectrum of emerging market securities, including sovereign and corporate debt instruments, dividend-paying equities, convertible securities and preferred stocks.