Short Interest in Templeton Emerging Markets Fund (NYSE:EMF) Expands By 198.5%

Templeton Emerging Markets Fund (NYSE:EMF) was the recipient of a large increase in short interest during the month of April. As of April 30th, there was short interest totaling 68,871 shares, an increase of 198.5% from the April 15th total of 23,070 shares. Currently, 0.5% of the company’s shares are sold short. Based on an average daily volume of 27,710 shares, the days-to-cover ratio is presently 2.5 days.

Templeton Emerging Markets Fund Stock Performance

NYSE:EMF traded up $0.18 during midday trading on Thursday, hitting $22.65. 39,015 shares of the company traded hands, compared to its average volume of 35,161. The firm’s fifty day moving average is $19.34 and its 200-day moving average is $18.61. Templeton Emerging Markets Fund has a 12-month low of $13.31 and a 12-month high of $22.75.

Templeton Emerging Markets Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th were paid a $0.22 dividend. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.88 annualized dividend and a dividend yield of 3.9%.

Hedge Funds Weigh In On Templeton Emerging Markets Fund

Several hedge funds have recently added to or reduced their stakes in the company. City of London Investment Management Co. Ltd. raised its position in Templeton Emerging Markets Fund by 5.4% in the 3rd quarter. City of London Investment Management Co. Ltd. now owns 4,171,496 shares of the financial services provider’s stock worth $69,831,000 after purchasing an additional 212,281 shares during the period. Bank of America Corp DE boosted its position in shares of Templeton Emerging Markets Fund by 12.2% during the second quarter. Bank of America Corp DE now owns 372,093 shares of the financial services provider’s stock valued at $5,429,000 after buying an additional 40,577 shares during the period. Lazard Asset Management LLC grew its stake in shares of Templeton Emerging Markets Fund by 142.5% during the third quarter. Lazard Asset Management LLC now owns 276,278 shares of the financial services provider’s stock valued at $4,625,000 after buying an additional 162,366 shares during the last quarter. Beacon Pointe Advisors LLC purchased a new stake in shares of Templeton Emerging Markets Fund in the fourth quarter worth approximately $3,463,000. Finally, Uncommon Cents Investing LLC lifted its stake in shares of Templeton Emerging Markets Fund by 1.2% during the 4th quarter. Uncommon Cents Investing LLC now owns 157,428 shares of the financial services provider’s stock worth $2,681,000 after acquiring an additional 1,820 shares during the last quarter. 49.86% of the stock is currently owned by institutional investors.

About Templeton Emerging Markets Fund

Templeton Emerging Markets Fund (NYSE:EMF) is a closed-end management investment company that seeks long-term capital appreciation and income by investing primarily in equity securities of companies located in emerging market countries. Managed by Franklin Templeton Investment Management, the fund employs a bottom-up, fundamental research approach to identify undervalued opportunities across local stock exchanges. Its emerging markets mandate spans a diverse range of industries, enabling investors to participate in the growth potential of developing economies.

The fund’s portfolio typically includes common stocks of issuers based in regions such as Asia, Latin America, Eastern Europe, the Middle East and Africa.