The New Germany Fund, Inc. (NYSE:GF) Stock Short Interest Jumps 445.3%

The New Germany Fund, Inc. (NYSE:GF) was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 2,732 shares, an increase of 445.3% from the September 15th total of 501 shares. Based on an average daily volume of 25,893 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On The New Germany Fund

Hedge funds have recently bought and sold shares of the stock. Saba Capital Management L.P. raised its holdings in shares of The New Germany Fund by 17.4% in the first 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 during the last quarter. Bulldog Investors LLP boosted its stake in shares of The New Germany Fund by 6.1% during the first quarter. Bulldog Investors LLP now owns 532,074 shares of the investment management company’s stock valued at $5,438,000 after acquiring an additional 30,817 shares during the last quarter. Finally, Altium Capital Management LLC purchased a new stake in The New Germany Fund during the 1st quarter worth about $255,000.

The New Germany Fund Trading Up 0.4%

Shares of The New Germany Fund stock traded up $0.04 during trading on Friday, hitting $10.30. 4,949 shares of the company were exchanged, compared to its average volume of 31,333. The New Germany Fund has a fifty-two week low of $9.98 and a fifty-two week high of $12.49. The firm has a 50 day moving average price of $11.20 and a 200 day moving average price of $11.39.

About The New Germany Fund

The New Germany Fund, Inc is a closed-end investment company focused on providing investors with exposure to Germany’s equity markets. Rather than operating a commercial business, the fund invests primarily in publicly traded companies that are based in Germany or have significant business activities there.

The fund’s portfolio has historically included German companies across multiple industries, allowing investors to obtain diversified exposure to the country’s economy through a single investment vehicle.