Templeton Emerging Markets Fund (NYSE:EMF) Sees Significant Decline in Short Interest

Templeton Emerging Markets Fund (NYSE:EMF) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 4,300 shares, a drop of 82.4% from the August 15th total of 24,500 shares. Based on an average trading volume of 35,000 shares, the short-interest ratio is currently 0.1 days.

Several hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN raised its position in shares of Templeton Emerging Markets Fund by 6.8% during the 2nd quarter. Wells Fargo & Company MN now owns 763,708 shares of the financial services provider’s stock valued at $15,114,000 after purchasing an additional 48,555 shares during the period. Bank of America Corp DE grew its stake in Templeton Emerging Markets Fund by 4.7% during the second quarter. Bank of America Corp DE now owns 95,810 shares of the financial services provider’s stock valued at $1,896,000 after acquiring an additional 4,269 shares in the last quarter. First Trust Advisors LP grew its stake in Templeton Emerging Markets Fund by 1.2% during the second quarter. First Trust Advisors LP now owns 68,027 shares of the financial services provider’s stock valued at $1,346,000 after acquiring an additional 788 shares in the last quarter. Royal Bank of Canada grew its stake in Templeton Emerging Markets Fund by 2.3% during the second quarter. Royal Bank of Canada now owns 79,364 shares of the financial services provider’s stock valued at $1,571,000 after acquiring an additional 1,788 shares in the last quarter. Finally, City of London Investment Management Co. Ltd. grew its stake in Templeton Emerging Markets Fund by 2.0% during the second quarter. City of London Investment Management Co. Ltd. now owns 2,319,586 shares of the financial services provider’s stock valued at $45,939,000 after acquiring an additional 44,463 shares in the last quarter. Hedge funds and other institutional investors own 42.96% of the company’s stock.

EMF traded down $0.10 during trading on Wednesday, hitting $17.71. The company’s stock had a trading volume of 1,220 shares, compared to its average volume of 32,995. Templeton Emerging Markets Fund has a one year low of $14.90 and a one year high of $20.96. The business’s 50 day simple moving average is $18.17 and its 200-day simple moving average is $19.07.

Templeton Emerging Markets Fund Company Profile

Templeton Emerging Markets Fund is a closed-ended equity mutual fund launched by Franklin Resources Inc The fund is managed by Templeton Asset Management Ltd. It invests in the public equity markets of emerging market countries across the globe. The fund seeks to invest in stocks of companies operating across diversified sectors.

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