Templeton Emerging Markets Income Fund (NYSE:TEI) Trading 0.9% Higher Following Dividend Announcement

Templeton Emerging Markets Income Fund (NYSE:TEI)’s share price was up 0.9% on Friday following a dividend announcement from the company. The stock traded as high as $5.40 and last traded at $5.39. Approximately 108,185 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 147,084 shares. The stock had previously closed at $5.34.

The newly announced dividend which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be given a $0.0475 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $0.57 dividend on an annualized basis and a dividend yield of 10.58%.

Templeton Emerging Markets Income Fund Stock Performance

The business’s 50-day moving average is $5.32 and its two-hundred day moving average is $5.34.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TEI. Deutsche Bank AG bought a new stake in shares of Templeton Emerging Markets Income Fund during the first quarter valued at approximately $2,671,000. Invictus Private Wealth LLC lifted its holdings in shares of Templeton Emerging Markets Income Fund by 2.6% during the first quarter. Invictus Private Wealth LLC now owns 99,734 shares of the company’s stock valued at $537,000 after purchasing an additional 2,572 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Templeton Emerging Markets Income Fund by 7.2% in the first quarter. LPL Financial LLC now owns 478,913 shares of the company’s stock worth $2,577,000 after buying an additional 32,183 shares during the period. Cetera Investment Advisers raised its holdings in shares of Templeton Emerging Markets Income Fund by 10.0% during the first quarter. Cetera Investment Advisers now owns 170,487 shares of the company’s stock valued at $917,000 after acquiring an additional 15,564 shares during the period. Finally, Private Advisor Group LLC lifted its position in shares of Templeton Emerging Markets Income Fund by 8.8% in the 1st quarter. Private Advisor Group LLC now owns 141,185 shares of the company’s stock valued at $760,000 after acquiring an additional 11,435 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.