The New Germany Fund, Inc. (NYSE:GF) Shares Shorted: Short Interest Up 445.3% in September

The New Germany Fund, Inc. (NYSE:GF) was the recipient of a significant growth in short interest in September. As of September 30th, there was short interest totaling 2,732 shares, a growth 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.

Institutional Trading of The New Germany Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Saba Capital Management L.P. raised its stake in shares of 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 purchasing an additional 384,585 shares in the last quarter. Bulldog Investors LLP grew its stake in shares of The New Germany Fund by 6.1% in the 1st quarter. Bulldog Investors LLP now owns 532,074 shares of the investment management company’s stock valued at $5,438,000 after buying an additional 30,817 shares in the last quarter. Finally, Altium Capital Management LLC acquired a new position in The New Germany Fund in the first quarter worth approximately $255,000.

The New Germany Fund Stock Up 0.4%

GF stock traded up $0.04 during midday trading on Friday, reaching $10.30. The company had a trading volume of 4,949 shares, compared to its average volume of 31,333. The New Germany Fund has a 1 year low of $9.98 and a 1 year high of $12.49. The company has a 50 day moving average of $11.20 and a two-hundred day moving average of $11.39.

About The New Germany Fund

The New Germany Fund, Inc (NYSE:GF) is a closed-end investment company designed to provide investors with exposure to the German equity market. Rather than operating as an industrial or commercial business, the fund invests primarily in publicly traded securities of German companies and seeks long-term capital appreciation through a geographically focused portfolio.

The fund’s investments may span multiple sectors of the German economy, including industrials, financial services, technology, consumer products, health care and communications.