Short Interest in Templeton Emerging Markets Income Fund (NYSE:TEI) Rises By 77.0%

Templeton Emerging Markets Income Fund (NYSE:TEI) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 53,800 shares, a growth of 77.0% from the December 15th total of 30,400 shares. Based on an average daily volume of 149,100 shares, the days-to-cover ratio is currently 0.4 days.

Templeton Emerging Markets Income Fund Price Performance

TEI traded down $0.02 during trading hours on Friday, hitting $5.23. 118,307 shares of the company’s stock were exchanged, compared to its average volume of 148,610. Templeton Emerging Markets Income Fund has a 12-month low of $5.01 and a 12-month high of $5.94. The firm has a 50 day moving average of $5.28 and a 200 day moving average of $5.49.

Templeton Emerging Markets Income Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, January 21st will be given a dividend of $0.0475 per share. This represents a $0.57 dividend on an annualized basis and a dividend yield of 10.90%. The ex-dividend date is Tuesday, January 21st.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Private Advisor Group LLC lifted its stake in Templeton Emerging Markets Income Fund by 14.5% in the second quarter. Private Advisor Group LLC now owns 131,700 shares of the company’s stock worth $702,000 after acquiring an additional 16,650 shares during the last quarter. Choreo LLC acquired a new position in Templeton Emerging Markets Income Fund in the second quarter valued at approximately $99,000. Evergreen Capital Management LLC increased its stake in Templeton Emerging Markets Income Fund by 6.7% in the second quarter. Evergreen Capital Management LLC now owns 3,401,733 shares of the company’s stock valued at $18,131,000 after purchasing an additional 213,418 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Templeton Emerging Markets Income Fund by 350.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 13,511 shares of the company’s stock worth $72,000 after buying an additional 10,511 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in shares of Templeton Emerging Markets Income Fund by 14.1% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 27,940 shares of the company’s stock valued at $149,000 after buying an additional 3,463 shares in the last quarter.

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.