Templeton Emerging Markets Income Fund (NYSE:TEI) Sees Significant Decrease in Short Interest

Templeton Emerging Markets Income Fund (NYSE:TEI – Get Rating) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 7,400 shares, a drop of 60.4% from the April 30th total of 18,700 shares. Based on an average daily volume of 157,700 shares, the days-to-cover ratio is presently 0.0 days.

Templeton Emerging Markets Income Fund Stock Up 2.1 %

TEI stock traded up $0.10 during midday trading on Friday, reaching $4.91. 98,798 shares of the company were exchanged, compared to its average volume of 183,079. Templeton Emerging Markets Income Fund has a 1-year low of $4.33 and a 1-year high of $6.20. The stock’s 50-day simple moving average is $5.00 and its 200 day simple moving average is $5.18.

Templeton Emerging Markets Income Fund Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, May 31st. Investors of record on Monday, May 15th will be given a $0.0476 dividend. This represents a $0.57 dividend on an annualized basis and a yield of 11.63%. This is a positive change from Templeton Emerging Markets Income Fund’s previous monthly dividend of $0.05. The ex-dividend date is Friday, May 12th.

Hedge Funds Weigh In On Templeton Emerging Markets Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. raised its stake in Templeton Emerging Markets Income Fund by 36.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 18,520 shares of the company’s stock valued at $94,000 after purchasing an additional 4,934 shares during the last quarter. Advisory Services Network LLC raised its position in shares of Templeton Emerging Markets Income Fund by 37.5% during the 1st quarter. Advisory Services Network LLC now owns 31,894 shares of the company’s stock valued at $162,000 after acquiring an additional 8,694 shares in the last quarter. MML Investors Services LLC acquired a new stake in shares of Templeton Emerging Markets Income Fund during the 1st quarter valued at approximately $51,000. HRT Financial LP acquired a new stake in shares of Templeton Emerging Markets Income Fund during the 1st quarter valued at approximately $73,000. Finally, HighTower Advisors LLC increased its position in Templeton Emerging Markets Income Fund by 3.5% in the first quarter. HighTower Advisors LLC now owns 512,186 shares of the company’s stock worth $2,599,000 after buying an additional 17,188 shares during the period.

Templeton Emerging Markets Income Fund Company Profile

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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.