Templeton Global Income Fund (NYSE:GIM) Sees Large Drop in Short Interest

Templeton Global Income Fund (NYSE:GIM) was the target of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 24,500 shares, a decline of 26.4% from the August 15th total of 33,300 shares. Based on an average daily trading volume, of 267,900 shares, the short-interest ratio is currently 0.1 days.

Templeton Global Income Fund Price Performance

Shares of NYSE GIM traded down $0.02 during trading on Friday, hitting $3.98. The company had a trading volume of 435,076 shares, compared to its average volume of 230,578. Templeton Global Income Fund has a 52 week low of $3.97 and a 52 week high of $4.56. The business’s 50-day moving average is $4.14 and its 200 day moving average is $4.18.

Templeton Global Income Fund Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, September 29th. Shareholders of record on Monday, September 18th will be issued a $0.0298 dividend. The ex-dividend date is Friday, September 15th. This represents a $0.36 annualized dividend and a dividend yield of 8.98%.

Insider Transactions at Templeton Global Income Fund

In related news, major shareholder Saba Capital Management, L.P. sold 4,010,910 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $4.17, for a total transaction of $16,725,494.70. Following the sale, the insider now owns 34,586,903 shares of the company’s stock, valued at $144,227,385.51. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 6.18% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Carmel Capital Partners LLC bought a new position in shares of Templeton Global Income Fund in the first quarter valued at $37,000. Virtu Financial LLC purchased a new position in Templeton Global Income Fund during the 4th quarter worth approximately $44,000. Alpha Cubed Investments LLC purchased a new position in Templeton Global Income Fund during the 1st quarter worth approximately $46,000. Ieq Capital LLC purchased a new position in Templeton Global Income Fund during the 2nd quarter worth approximately $49,000. Finally, Goldman Sachs Group Inc. purchased a new position in Templeton Global Income Fund during the 1st quarter worth approximately $54,000. Institutional investors own 59.95% of the company’s stock.

About Templeton Global Income Fund

Templeton Global 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 fixed income markets across the globe. It primarily invests in government bonds. The fund is actively managed. It benchmarks the performance of its portfolio against the J.P.