Franklin Templeton funds repurchase 1.08 million shares in Q2 2025

Four Franklin Templeton closed-end funds repurchased a combined 1,082,728 shares during the second quarter of 2025, according to a company statement.

Putnam Municipal Opportunities Trust (NYSE: PMO) led the repurchases with 690,423 shares bought back between April 1 and June 30, 2025. Putnam Managed Municipal Income Trust (NYSE: PMM) repurchased 280,433 shares during the same period.

Templeton Dragon Fund (NYSE: TDF) bought back 59,196 shares, while Templeton Emerging Markets Fund (NYSE: EMF) repurchased 52,676 shares in the quarter.

Since the inception of their respective repurchase programs, PMM has bought back 18,381,419 shares, PMO has repurchased 17,414,975 shares, TDF has bought back 9,416,184 shares, and EMF has repurchased 3,137,210 shares.

The funds conduct share repurchases when trading at a discount to net asset value per share. All repurchased shares are canceled, with the difference between the purchase price and net asset value providing incremental accretion to the fund's net asset value for remaining shareholders.

Each fund's board has authorized share repurchases when shares trade at a discount to net asset value. The funds' shares trade on the New York Stock Exchange.

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