Templeton Emerging Markets Income Fund (NYSE:TEI) Stock Price Up 0.1% – Still a Buy?

Templeton Emerging Markets Income Fund (NYSE:TEIGet Free Report)’s share price traded up 0.1% on Monday . The company traded as high as $6.60 and last traded at $6.5740. 111,019 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 195,990 shares. The stock had previously closed at $6.57.

Templeton Emerging Markets Income Fund Stock Performance

The business’s 50 day simple moving average is $6.54 and its two-hundred day simple moving average is $6.53.

Templeton Emerging Markets Income Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 23rd will be issued a dividend of $0.054 per share. The ex-dividend date of this dividend is Wednesday, September 23rd. This represents a c) annualized dividend and a dividend yield of 9.9%.

Hedge Funds Weigh In On Templeton Emerging Markets Income Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp acquired a new stake in shares of Templeton Emerging Markets Income Fund during the first quarter valued at about $32,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of 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 buying an additional 2,860 shares during the period. Geneos Wealth Management Inc. raised its holdings in Templeton Emerging Markets Income Fund by 572.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 9,272 shares of the company’s stock valued at $50,000 after buying an additional 7,894 shares during the last quarter. Advisory Services Network LLC bought a new position in Templeton Emerging Markets Income Fund in the 3rd quarter valued at approximately $50,000. Finally, Global Retirement Partners LLC acquired a new stake in Templeton Emerging Markets Income Fund during the 4th quarter worth approximately $64,000.

About Templeton Emerging Markets Income Fund

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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.

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