Templeton Emerging Markets Income Fund (NYSE:TEI) Share Price Passes Below Fifty Day Moving Average – Here’s Why

Templeton Emerging Markets Income Fund (NYSE:TEI) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $6.33 and traded as low as $6.15. Templeton Emerging Markets Income Fund shares last traded at $6.2790, with a volume of 150,229 shares changing hands.

Templeton Emerging Markets Income Fund Trading Up 1.8%

The business’s fifty day moving average price is $6.33 and its two-hundred day moving average price is $6.49.

Templeton Emerging Markets Income Fund Dividend Announcement

The firm 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. This represents a c) annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend is Tuesday, June 23rd.

Institutional Investors Weigh In On Templeton Emerging Markets Income Fund

Hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp purchased a new stake in Templeton Emerging Markets Income Fund in the first quarter valued at $32,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Templeton Emerging Markets Income Fund by 95.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,860 shares of the company’s stock valued at $35,000 after purchasing an additional 2,860 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Templeton Emerging Markets Income Fund by 572.9% in the first quarter. Geneos Wealth Management Inc. now owns 9,272 shares of the company’s stock valued at $50,000 after purchasing an additional 7,894 shares during the last quarter. Advisory Services Network LLC purchased a new stake in Templeton Emerging Markets Income Fund in the third quarter valued at $50,000. Finally, Global Retirement Partners LLC purchased a new stake in Templeton Emerging Markets Income Fund in the fourth quarter valued at $64,000.

Templeton Emerging Markets Income Fund Company Profile

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.