Templeton Dragon Fund (NYSE:TDF) Shares Pass Below 200-Day Moving Average – Time to Sell?

Templeton Dragon Fund, Inc. (NYSE:TDF)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.41 and traded as low as $10.47. Templeton Dragon Fund shares last traded at $10.6050, with a volume of 25,135 shares changing hands.

Templeton Dragon Fund Price Performance

The business has a 50-day simple moving average of $11.32 and a 200-day simple moving average of $11.41.

Templeton Dragon Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.8%.

Hedge Funds Weigh In On Templeton Dragon Fund

Several hedge funds have recently bought and sold shares of the company. Flagship Harbor Advisors LLC acquired a new position in Templeton Dragon Fund in the 4th quarter valued at about $51,000. Ameriprise Financial Inc. acquired a new stake in shares of Templeton Dragon Fund during the third quarter worth about $144,000. XTX Topco Ltd acquired a new stake in shares of Templeton Dragon Fund during the fourth quarter worth about $147,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Templeton Dragon Fund in the second quarter valued at approximately $576,000. Finally, Compound Planning Inc. boosted its stake in shares of Templeton Dragon Fund by 3.9% in the fourth quarter. Compound Planning Inc. now owns 60,336 shares of the financial services provider’s stock valued at $679,000 after purchasing an additional 2,241 shares during the period. Institutional investors and hedge funds own 47.20% of the company’s stock.

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.