The New Germany Fund, Inc. (NYSE:GF – Get Free Report) was the target of a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 6,032 shares, a growth of 120.8% from the September 30th total of 2,732 shares. Based on an average trading volume of 19,348 shares, the days-to-cover ratio is presently 0.3 days.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Blue Bell Private Wealth Management LLC grew its position in shares of The New Germany Fund by 4.8% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 123,277 shares of the investment management company’s stock worth $1,312,000 after buying an additional 5,591 shares during the period. Altium Capital Management LLC acquired a new position in The New Germany Fund in the first quarter valued at approximately $255,000. Bulldog Investors LLP boosted its stake 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 valued at $5,438,000 after acquiring an additional 30,817 shares during the last quarter. Shaker Financial Services LLC boosted its stake in The New Germany Fund by 652.1% in the third quarter. Shaker Financial Services LLC now owns 92,017 shares of the investment management company’s stock valued at $979,000 after acquiring an additional 79,782 shares during the last quarter. Finally, Saba Capital Management L.P. grew its holdings 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 worth $26,522,000 after acquiring an additional 384,585 shares during the period.
The New Germany Fund Price Performance
The New Germany Fund stock traded down $0.02 during mid-day trading on Friday, hitting $10.28. The stock had a trading volume of 13,369 shares, compared to its average volume of 30,704. The stock has a 50-day simple moving average of $10.83 and a two-hundred day simple moving average of $11.38. The New Germany Fund has a 12 month low of $9.98 and a 12 month high of $12.49.
The New Germany Fund Company Profile
The New Germany Fund, Inc (NYSE: GF) is a closed-end investment company focused primarily on providing investors with exposure to Germany’s equity markets. Rather than operating a commercial business, the fund invests in a portfolio of securities issued by German companies across a range of industries.
The fund’s investment objective has been long-term capital appreciation. Its portfolio may include common stocks and other equity-related investments, with an emphasis on companies whose principal operations, assets or revenues are connected to Germany.
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