Templeton Emerging Markets Income Fund (NYSE:TEI) Shares Pass Below 50 Day Moving Average – Here’s What Happened

Templeton Emerging Markets Income Fund (NYSE:TEI)’s share price crossed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $5.72 and traded as low as $5.60. Templeton Emerging Markets Income Fund shares last traded at $5.60, with a volume of 104,768 shares traded.

Templeton Emerging Markets Income Fund Trading Down 0.9 %

The company has a 50-day moving average price of $5.73 and a 200-day moving average price of $5.51.

Templeton Emerging Markets Income Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 17th will be given a $0.0475 dividend. The ex-dividend date is Thursday, October 17th. This represents a $0.57 annualized dividend and a dividend yield of 10.18%.

Hedge Funds Weigh In On Templeton Emerging Markets Income Fund

Several institutional investors and hedge funds have recently modified their holdings of TEI. Beacon Capital Management LLC acquired a new position in shares of Templeton Emerging Markets Income Fund in the 1st quarter valued at approximately $25,000. Wealthcare Advisory Partners LLC acquired a new position in shares of Templeton Emerging Markets Income Fund in the 1st quarter valued at approximately $59,000. Park Avenue Securities LLC acquired a new position in shares of Templeton Emerging Markets Income Fund in the 1st quarter valued at approximately $67,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Templeton Emerging Markets Income Fund by 350.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 13,511 shares of the company’s stock valued at $72,000 after purchasing an additional 10,511 shares during the period. Finally, Breakwater Capital Group grew its position in shares of Templeton Emerging Markets Income Fund by 13.6% in the 2nd quarter. Breakwater Capital Group now owns 15,900 shares of the company’s stock valued at $85,000 after purchasing an additional 1,900 shares during the period.

About Templeton Emerging Markets Income Fund

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.