Templeton Emerging Markets Income Fund (NYSE:TEI) Shares Down 1.8% – Here’s Why

Shares of Templeton Emerging Markets Income Fund (NYSE:TEI) fell 1.8% during trading on Tuesday . The stock traded as low as $6.31 and last traded at $6.3550. 221,521 shares changed hands during mid-day trading, an increase of 13% from the average session volume of 195,632 shares. The stock had previously closed at $6.47.

Templeton Emerging Markets Income Fund Price Performance

The company’s 50 day moving average is $6.26 and its 200 day moving average is $5.96.

Templeton Emerging Markets Income Fund Dividend Announcement

The business also recently declared a oct 25 dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 17th were paid a $0.0475 dividend. This represents a yield of 924.0%. The ex-dividend date of this dividend was Friday, October 17th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. raised its stake 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 in the last quarter. Geneos Wealth Management Inc. raised its stake in Templeton Emerging Markets Income Fund by 572.9% during the first quarter. Geneos Wealth Management Inc. now owns 9,272 shares of the company’s stock worth $50,000 after acquiring an additional 7,894 shares in the last quarter. Elequin Capital LP acquired a new position in Templeton Emerging Markets Income Fund during the first quarter worth about $55,000. Accredited Investor Services LLC acquired a new position in Templeton Emerging Markets Income Fund during the first quarter worth about $59,000. Finally, Farther Finance Advisors LLC acquired a new position in Templeton Emerging Markets Income Fund during the third quarter worth about $59,000.

Templeton Emerging Markets Income Fund Company Profile

Templeton Emerging Markets Income Fund is a closed-ended fixed income mutual fund launched by Franklin Resources, Inc It is managed by Franklin Advisers, Inc The fund invests in the fixed income markets of emerging market countries across the globe. It primarily invests in bonds issued by sovereign or sovereign-related entities and private sector companies.