Templeton Emerging Markets Income Fund (NYSE:TEI) Stock Short Interest Declines 36.4%

Templeton Emerging Markets Income Fund (NYSE:TEI) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 47,834 shares, a decline of 36.4% from the September 15th total of 75,244 shares. Based on an average trading volume of 182,238 shares, the short-interest ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TEI. B. Riley Wealth Advisors Inc. boosted its stake in shares of Templeton Emerging Markets Income Fund by 6.6% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 48,854 shares of the company’s stock valued at $300,000 after buying an additional 3,030 shares during the last quarter. Kaizen Financial Strategies increased its stake 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 worth $1,157,000 after buying an additional 3,126 shares during the last quarter. Noble Wealth Management PBC increased its stake 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 worth $73,000 after buying an additional 3,570 shares during the last quarter. HighTower Advisors LLC increased its stake 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 worth $3,466,000 after buying an additional 3,920 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in Templeton Emerging Markets Income Fund in the first quarter valued at $32,000.

Templeton Emerging Markets Income Fund Price Performance

TEI traded down $0.05 during trading on Friday, hitting $6.22. 143,958 shares of the company’s stock were exchanged, compared to its average volume of 183,186. Templeton Emerging Markets Income Fund has a 1 year low of $5.75 and a 1 year high of $7.00. The stock has a 50 day moving average price of $6.51 and a 200 day moving average price of $6.50.

Templeton Emerging Markets Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, December 31st. Investors of record on Wednesday, December 23rd will be issued a dividend of $0.0615 per share. The ex-dividend date is Wednesday, December 23rd. This represents a $0.74 annualized dividend and a dividend yield of 11.9%.

Templeton Emerging Markets Income Fund Company Profile

Templeton Emerging Markets Income Fund (NYSE: TEI) is a closed-end investment company managed by Franklin Advisers, Inc, part of Franklin Templeton. The fund seeks to provide a high level of current income, with capital appreciation as a secondary objective.

TEI invests primarily in debt securities issued by governments, government-related entities and companies in emerging-market countries. Its portfolio may include sovereign and corporate bonds, emerging-market debt denominated in both local and foreign currencies, and other income-producing securities.

Through its investments, the fund provides exposure to emerging markets across regions such as Asia, Latin America, Eastern Europe, the Middle East and Africa.