Templeton Dragon Fund (NYSE:TDF) Stock Price Passes Above 50 Day Moving Average – Should You Sell?

Shares of Templeton Dragon Fund, Inc. (NYSE:TDF) 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 trading hands.

Templeton Dragon Fund Stock Down 0.4%

The firm has a 50 day simple moving average of $10.77 and a 200-day simple moving average of $11.09.

Templeton Dragon Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 23rd were given a dividend of $0.15 per share. The ex-dividend date of this dividend 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%.

Institutional Investors Weigh In On Templeton Dragon Fund

Institutional investors have recently added to or reduced their stakes in the business. 180 Wealth Advisors LLC lifted its stake in shares of Templeton Dragon Fund by 5.3% during the second quarter. 180 Wealth Advisors LLC now owns 329,251 shares of the financial services provider’s stock worth $3,586,000 after buying an additional 16,590 shares during the period. Bank of America Corp DE boosted its stake in shares of Templeton Dragon Fund by 10.7% during the 1st quarter. Bank of America Corp DE now owns 283,616 shares of the financial services provider’s stock worth $3,009,000 after acquiring an additional 27,428 shares in the last quarter. Royal Bank of Canada boosted its position in Templeton Dragon Fund by 29.0% during the first quarter. Royal Bank of Canada now owns 4,450 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 1,000 shares in the last quarter. Compound Planning Inc. lifted its position in shares of Templeton Dragon Fund by 11.9% during the 1st quarter. Compound Planning Inc. now owns 67,534 shares of the financial services provider’s stock valued at $717,000 after buying an additional 7,198 shares in the last quarter. Finally, Quantedge Capital Pte Ltd lifted its holdings in Templeton Dragon Fund by 10.3% during the first quarter. Quantedge Capital Pte Ltd now owns 41,716 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 3,900 shares in the last quarter. Institutional investors and hedge funds own 47.20% of the company’s stock.

Templeton Dragon Fund Company Profile

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.