Shaker Financial Services LLC Purchases 79,782 Shares of The New Germany Fund, Inc. $GF

Shaker Financial Services LLC raised its holdings in shares of The New Germany Fund, Inc. (NYSE:GF) by 652.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 92,017 shares of the investment management company’s stock after purchasing an additional 79,782 shares during the period. Shaker Financial Services LLC’s holdings in The New Germany Fund were worth $979,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GF. Saba Capital Management L.P. raised its holdings in shares of The New Germany Fund by 17.4% during the first 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. Bulldog Investors LLP lifted its holdings in shares of The New Germany Fund by 6.1% during 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 during the period. Finally, Altium Capital Management LLC purchased a new stake in The New Germany Fund during the first quarter valued at $255,000.

The New Germany Fund Stock Performance

NYSE GF traded down $0.07 during trading hours on Wednesday, hitting $10.20. 3,535 shares of the company’s stock traded hands, compared to its average volume of 31,054. The business’s fifty day moving average price is $11.15 and its two-hundred day moving average price is $11.39. The New Germany Fund, Inc. has a 52 week low of $9.98 and a 52 week high of $12.49.

The New Germany Fund Company Profile

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.