Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) Sees Significant Increase in Short Interest

Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 61,535 shares, a growth of 72.9% from the September 30th total of 35,587 shares. Based on an average daily volume of 121,250 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On Neuberger Berman Next Generation Connectivity Fund

Hedge funds have recently modified their holdings of the business. Private Advisor Group LLC boosted its holdings in Neuberger Berman Next Generation Connectivity Fund by 69.0% in the first quarter. Private Advisor Group LLC now owns 171,475 shares of the company’s stock valued at $2,207,000 after purchasing an additional 69,984 shares during the last quarter. Quantedge Capital Pte Ltd increased its stake in shares of Neuberger Berman Next Generation Connectivity Fund by 81.1% during the first quarter. Quantedge Capital Pte Ltd now owns 193,662 shares of the company’s stock worth $2,492,000 after purchasing an additional 86,700 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Neuberger Berman Next Generation Connectivity Fund by 94.2% during the first quarter. NewEdge Advisors LLC now owns 117,358 shares of the company’s stock valued at $1,510,000 after acquiring an additional 56,937 shares during the last quarter. Altium Capital Management LLC boosted its stake in Neuberger Berman Next Generation Connectivity Fund by 20.4% during the 1st quarter. Altium Capital Management LLC now owns 204,562 shares of the company’s stock worth $2,633,000 after purchasing an additional 34,689 shares during the last quarter. Finally, Fifth Third Bancorp acquired a new stake in Neuberger Berman Next Generation Connectivity Fund in the 1st quarter valued at about $63,000.

Neuberger Berman Next Generation Connectivity Fund Trading Down 2.1%

NBXG opened at $14.34 on Tuesday. The company has a 50 day simple moving average of $15.31 and a two-hundred day simple moving average of $14.85. Neuberger Berman Next Generation Connectivity Fund has a 1-year low of $12.32 and a 1-year high of $17.43.

Neuberger Berman Next Generation Connectivity Fund Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be issued a $0.1320 dividend. The ex-dividend date is Monday, November 16th. This is a boost from Neuberger Berman Next Generation Connectivity Fund’s previous monthly dividend of $0.12. This represents a $1.58 dividend on an annualized basis and a dividend yield of 11.0%.

About Neuberger Berman Next Generation Connectivity Fund

Neuberger Berman Next Generation Connectivity Fund Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol NBXG. The fund is managed by Neuberger Berman Investment Advisers LLC, an affiliate of global investment manager Neuberger Berman.

The fund seeks to provide investors with exposure to companies involved in the development and expansion of next-generation connectivity. Its investment focus may include businesses associated with wireless communications, 5G networks, broadband, data centers, cloud computing, digital infrastructure, communications equipment, and related technologies and services.

NBXG invests primarily in publicly traded companies and may allocate its portfolio across markets worldwide, allowing it to participate in connectivity-related growth opportunities in the United States and international markets.