The New Germany Fund, Inc. (NYSE:GF) Short Interest Update

The New Germany Fund, Inc. (NYSE:GFGet Free Report) was the recipient of a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 8,451 shares, a decline of 46.5% from the June 30th total of 15,808 shares. Based on an average daily trading volume, of 22,689 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Saba Capital Management L.P. increased its stake 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 buying an additional 384,585 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of The New Germany Fund by 0.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,141,916 shares of the investment management company’s stock worth $24,461,000 after acquiring an additional 7,587 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of The New Germany Fund by 3.0% in the second quarter. Lazard Asset Management LLC now owns 2,367,413 shares of the investment management company’s stock worth $28,266,000 after acquiring an additional 69,916 shares in the last quarter. Bulldog Investors LLP increased its position in shares of The New Germany Fund by 2.0% during the fourth quarter. Bulldog Investors LLP now owns 501,257 shares of the investment management company’s stock worth $5,724,000 after acquiring an additional 9,778 shares during the period. Finally, Royal Bank of Canada increased its position in shares of The New Germany Fund by 1.1% during the first quarter. Royal Bank of Canada now owns 93,573 shares of the investment management company’s stock worth $918,000 after acquiring an additional 1,018 shares during the period.

The New Germany Fund Stock Performance

The New Germany Fund stock traded down $0.15 during midday trading on Wednesday, reaching $11.15. 17,910 shares of the stock traded hands, compared to its average volume of 33,882. The company has a 50-day simple moving average of $11.64 and a two-hundred day simple moving average of $11.59. The New Germany Fund has a 12-month low of $9.98 and a 12-month high of $12.82.

The New Germany Fund Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, June 29th. Stockholders of record on Tuesday, May 26th were given a dividend of $0.154 per share. This is a boost from The New Germany Fund’s previous dividend of $0.13. This represents a dividend yield of 261.0%. The ex-dividend date of this dividend was Tuesday, May 26th.

About The New Germany Fund

(Get Free Report)

The New Germany Fund, Inc (NYSE: GF) is a closed-end management investment company that offers U.S. investors targeted exposure to German equities. The fund seeks long-term total return through a combination of capital appreciation and income by investing primarily in a diversified portfolio of securities tied to the German economy.

The fund’s holdings typically include common stocks of German companies alongside American and European depositary receipts for issuers headquartered in or deriving a substantial portion of their revenues from Germany.

Further Reading

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