The New Germany Fund, Inc. (NYSE:GF – Get Free Report) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 501 shares, a decrease of 87.7% from the August 31st total of 4,083 shares. Based on an average trading volume of 26,758 shares, the days-to-cover ratio is currently 0.0 days.
The New Germany Fund Trading Down 0.4%
Shares of The New Germany Fund stock traded down $0.04 on Friday, hitting $10.77. 15,667 shares of the company traded hands, compared to its average volume of 31,829. The company has a 50-day moving average price of $11.37 and a 200 day moving average price of $11.42. The New Germany Fund has a 12-month low of $9.98 and a 12-month high of $12.49.
Institutional Investors Weigh In On The New Germany Fund
Several institutional investors and hedge funds have recently bought and sold shares of the business. Altium Capital Management LLC purchased a new stake in shares of The New Germany Fund during the first quarter worth about $255,000. Bulldog Investors LLP boosted its holdings in The New Germany Fund by 6.1% in the first 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. grew its position 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 valued at $26,522,000 after purchasing an additional 384,585 shares during the last quarter.
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.
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