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

The New Germany Fund, Inc. (NYSE:GF) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 22,100 shares, an increase of 21.4% from the February 13th total of 18,200 shares. Based on an average trading volume of 45,100 shares, the short-interest ratio is presently 0.5 days.

Hedge Funds Weigh In On The New Germany Fund

A number of institutional investors have recently modified their holdings of the company. Saba Capital Management L.P. raised its position in shares of The New Germany Fund by 77.6% in the fourth quarter. Saba Capital Management L.P. now owns 1,577,988 shares of the investment management company’s stock valued at $12,308,000 after buying an additional 689,500 shares during the last quarter. Bulldog Investors LLP grew its holdings in The New Germany Fund by 2,211.0% in the fourth quarter. Bulldog Investors LLP now owns 346,795 shares of the investment management company’s stock valued at $2,701,000 after purchasing an additional 331,789 shares during the period. Matisse Capital grew its holdings in The New Germany Fund by 7.6% in the fourth quarter. Matisse Capital now owns 91,411 shares of the investment management company’s stock valued at $713,000 after purchasing an additional 6,490 shares during the period. CSS LLC IL grew its holdings in The New Germany Fund by 18.9% in the fourth quarter. CSS LLC IL now owns 70,623 shares of the investment management company’s stock valued at $551,000 after purchasing an additional 11,204 shares during the period. Finally, Blue Bell Private Wealth Management LLC grew its holdings in The New Germany Fund by 583.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 46,385 shares of the investment management company’s stock valued at $362,000 after purchasing an additional 39,601 shares during the period.

The New Germany Fund Stock Performance

GF remained flat at $10.63 during midday trading on Wednesday. 20,477 shares of the company’s stock were exchanged, compared to its average volume of 37,712. The company’s fifty day moving average price is $8.78 and its 200-day moving average price is $8.52. The New Germany Fund has a one year low of $7.74 and a one year high of $10.65.

About The New Germany Fund

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.