Templeton Emerging Markets Income Fund (NYSE:TEI) Stock Price Crosses Below 50 Day Moving Average – Here’s Why

Templeton Emerging Markets Income Fund (NYSE:TEI)’s stock price passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $6.70 and traded as low as $6.36. Templeton Emerging Markets Income Fund shares last traded at $6.37, with a volume of 92,598 shares.

Templeton Emerging Markets Income Fund Price Performance

The stock has a 50-day moving average of $6.69 and a 200 day moving average of $6.47.

Templeton Emerging Markets Income Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 24th will be issued a dividend of $0.0475 per share. The ex-dividend date is Tuesday, March 24th. This represents a c) annualized dividend and a dividend yield of 9.2%.

Institutional Trading of Templeton Emerging Markets Income Fund

A number of hedge funds have recently made changes to their positions in TEI. Oppenheimer & Co. Inc. boosted its position in Templeton Emerging Markets Income Fund by 4.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 178,691 shares of the company’s stock worth $1,108,000 after buying an additional 8,161 shares during the period. Atlantic Union Bankshares Corp acquired a new position in Templeton Emerging Markets Income Fund in the 3rd quarter valued at approximately $84,000. Flagship Harbor Advisors LLC raised its stake in shares of Templeton Emerging Markets Income Fund by 5.9% during the third quarter. Flagship Harbor Advisors LLC now owns 252,072 shares of the company’s stock valued at $1,563,000 after acquiring an additional 14,041 shares during the last quarter. Wolverine Asset Management LLC bought a new position in shares of Templeton Emerging Markets Income Fund during the third quarter valued at $119,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Templeton Emerging Markets Income Fund during the third quarter worth $71,000.

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.