The New Germany Fund, Inc. (NYSE:GF) Short Interest Update

The New Germany Fund, Inc. (NYSE:GF) was the target of a large drop in short interest in August. As of August 31st, there was short interest totaling 4,083 shares, a drop of 57.3% from the August 15th total of 9,569 shares. Based on an average trading volume of 23,966 shares, the short-interest ratio is currently 0.2 days.

Institutional Trading of The New Germany Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quantify Chaos Advisors LLC acquired a new position in shares of The New Germany Fund in the 4th quarter valued at $259,000. Altium Capital Management LLC purchased a new position in shares of The New Germany Fund in the 1st quarter valued at $255,000. Blue Bell Private Wealth Management LLC raised its stake in The New Germany Fund by 20.1% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 100,443 shares of the investment management company’s stock worth $1,147,000 after acquiring an additional 16,779 shares in the last quarter. Bulldog Investors LLP raised its stake in The New Germany Fund by 6.1% during the 1st quarter. Bulldog Investors LLP now owns 532,074 shares of the investment management company’s stock worth $5,438,000 after acquiring an additional 30,817 shares in the last quarter. Finally, Saba Capital Management L.P. raised its stake in The New Germany Fund by 17.4% during the 1st quarter. Saba Capital Management L.P. now owns 2,595,140 shares of the investment management company’s stock worth $26,522,000 after acquiring an additional 384,585 shares in the last quarter.

The New Germany Fund Price Performance

GF stock traded down $0.43 during trading on Tuesday, hitting $10.81. 51,559 shares of the company’s stock were exchanged, compared to its average volume of 32,065. The business has a 50-day moving average price of $11.44 and a two-hundred day moving average price of $11.45. The New Germany Fund has a 52-week low of $9.98 and a 52-week high of $12.49.

The New Germany Fund Company Profile

The New Germany Fund, Inc (NYSE: GF) is a closed-end management investment company that offers U.S. investors targeted exposure to German equities. The fund seeks long-term total return through a combination of capital appreciation and income by investing primarily in a diversified portfolio of securities tied to the German economy.

The fund’s holdings typically include common stocks of German companies alongside American and European depositary receipts for issuers headquartered in or deriving a substantial portion of their revenues from Germany.