The New Germany Fund, Inc. (NYSE:GF) Sees Significant Increase in Short Interest

The New Germany Fund, Inc. (NYSE:GF) was the target of a large increase in short interest in January. As of January 15th, there was short interest totalling 16,200 shares, an increase of 37.3% from the December 31st total of 11,800 shares. Based on an average trading volume of 34,600 shares, the days-to-cover ratio is presently 0.5 days.

The New Germany Fund Price Performance

The New Germany Fund stock opened at $8.42 on Friday. The New Germany Fund has a fifty-two week low of $7.74 and a fifty-two week high of $8.99. The firm’s 50 day simple moving average is $8.07 and its 200-day simple moving average is $8.33.

The New Germany Fund Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, January 31st. Stockholders of record on Monday, December 30th were issued a $0.0482 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a dividend yield of 1%. This is a positive change from The New Germany Fund’s previous semi-annual dividend of $0.02.

Institutional Trading of The New Germany Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC grew its position in The New Germany Fund by 68.8% during the fourth quarter. Sanctuary Advisors LLC now owns 23,831 shares of the investment management company’s stock valued at $201,000 after purchasing an additional 9,717 shares in the last quarter. Matisse Capital boosted its stake in shares of The New Germany Fund by 7.6% during the 4th quarter. Matisse Capital now owns 91,411 shares of the investment management company’s stock valued at $713,000 after buying an additional 6,490 shares during the period. Heck Capital Advisors LLC purchased a new position in shares of The New Germany Fund during the 4th quarter valued at $45,000. Finally, Tidal Investments LLC bought a new stake in shares of The New Germany Fund during the 3rd quarter worth about $198,000.

The New Germany Fund Company Profile

The New Germany Fund Inc is a closed ended equity mutual fund launched by Deutsche Investment Management Americas Inc The fund is managed by Deutsche Asset Management International GmbH. It invests in the public equity markets of Germany. The fund seeks to invest in stocks of companies operating across diversified sectors.