Templeton Emerging Markets Income Fund (NYSE:TEI) Short Interest Update

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Templeton Emerging Markets Income Fund (NYSE:TEI – Get Rating) saw short interest rates rise sharply in May. As of May 31, there was short interest totaling 22,500 shares, an increase of 48.0% from May 15 of 15,200 shares. Based on an average daily volume of 155,900 shares, the days-to-cover ratio is currently 0.1 days.

NYSE:TEI was up $0.07 midday on Wednesday to hit $5.58. The company’s shares had a trading volume of 145,190 shares compared to an average volume of 163,466. The Templeton Emerging Markets Income Fund has a 1-year low of $5.49 and a 1-year high of $8.23. The company’s 50-day moving average is $6.07 and its 200-day moving average is $6.67.

The company also recently announced a monthly dividend, which will be paid on Thursday, June 30th. Investors of record on Friday, June 17 will receive a dividend of $0.059. That equates to a dividend of $0.71 on an annualized basis and a yield of 12.69%. The ex-dividend date is Thursday June 16th.

A number of hedge funds recently added to or reduced their stakes in the company. SMH Capital Advisors Inc. increased its holding in Templeton Emerging Markets Income Fund by 7.8% during the first quarter. SMH Capital Advisors Inc. now owns 26,058 shares of the company’s stock valued at $178,000 after purchasing an additional 1,888 shares last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of the Templeton Emerging Markets Income Fund by 2.0% during the first quarter. Oppenheimer & Co. Inc. now owns 105,167 shares of the company’s stock valued at $720,000 after purchasing an additional 2,104 shares last quarter. Thrivent Financial for Lutherans increased its holdings in Templeton Emerging Markets Income Fund shares by 2.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 120,948 shares of the company, valued at $882,000, after purchasing an additional 3,182 shares last quarter. Private Advisor Group LLC increased its holdings in shares of the Templeton Emerging Markets Income Fund by 43.5% during the first quarter. Private Advisor Group LLC now owns 14,350 shares of the company’s stock valued at $99,000 after purchasing an additional 4,350 shares last quarter. Finally, Capital Investment Advisors LLC increased its position in shares of the Templeton Emerging Markets Income Fund by 11.3% during the fourth quarter. Capital Investment Advisors LLC now owns 44,350 shares of the company’s stock valued at $323,000 after purchasing an additional 4,500 shares during the period.

About the Templeton Emerging Markets Income Fund (get rating)

Templeton Emerging Markets Income Fund is a closed-end fixed income mutual fund launched by Franklin Resources, Inc. It is managed by Franklin Advisers, Inc. The fund invests worldwide in the bond markets of emerging countries. It invests primarily in bonds issued by government, quasi-government and private sector companies.

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