The New Germany Fund, Inc. (NYSE:GF) Sees Large Decline in Short Interest

by · The Markets Daily

The New Germany Fund, Inc. (NYSE:GF – Get Free Report) saw a large decline in short interest in September. As of September 15th, there was short interest totaling 501 shares, a decline of 87.7% from the August 31st total of 4,083 shares. Based on an average daily volume of 26,758 shares, the short-interest ratio is presently 0.0 days.

The New Germany Fund Price Performance

GF stock traded down $0.04 during trading on Friday, hitting $10.77. 15,667 shares of the company’s stock traded hands, compared to its average volume of 31,829. The business has a fifty day simple moving average of $11.37 and a 200 day simple moving average of $11.42. The New Germany Fund has a 52 week low of $9.98 and a 52 week high of $12.49.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Altium Capital Management LLC purchased a new stake in The New Germany Fund during the first quarter worth $255,000. Bulldog Investors LLP lifted its stake in 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 acquiring an additional 30,817 shares during the period. Finally, Saba Capital Management L.P. boosted its stake in shares of The New Germany Fund by 17.4% in the first 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 last quarter.

About The New Germany Fund

(Get Free Report)

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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