The New Germany Fund (NYSE:GF) Shares Pass Below Two Hundred Day Moving Average of $8.50

The New Germany Fund, Inc. (NYSE:GF)’s share price passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.50 and traded as low as $8.14. The New Germany Fund shares last traded at $8.18, with a volume of 71,328 shares.

The New Germany Fund Price Performance

The company has a fifty day simple moving average of $8.50 and a 200-day simple moving average of $8.50.

The New Germany Fund Cuts Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, June 4th. Stockholders of record on Friday, May 24th were issued a dividend of $0.0239 per share. This represents a dividend yield of 0.9%. The ex-dividend date of this dividend was Thursday, May 23rd.

Hedge Funds Weigh In On The New Germany Fund

Institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC grew its position in The New Germany Fund by 773.6% during the 4th quarter. International Assets Investment Management LLC now owns 8,989 shares of the investment management company’s stock worth $79,000 after purchasing an additional 7,960 shares in the last quarter. Karpus Management Inc. purchased a new position in shares of The New Germany Fund during the fourth quarter valued at $200,000. Matisse Capital acquired a new position in The New Germany Fund during the first quarter valued at $531,000. Uncommon Cents Investing LLC lifted its stake in The New Germany Fund by 0.5% in the 1st quarter. Uncommon Cents Investing LLC now owns 308,220 shares of the investment management company’s stock worth $2,685,000 after acquiring an additional 1,420 shares in the last quarter. Finally, Shaker Financial Services LLC boosted its position in The New Germany Fund by 31.1% during the 4th quarter. Shaker Financial Services LLC now owns 305,996 shares of the investment management company’s stock worth $2,692,000 after acquiring an additional 72,507 shares during the period.

The New Germany Fund Company Profile

The New Germany Fund Inc is a closed ended equity mutual fund launched by Deutsche Investment Management Americas Inc The fund is managed by Deutsche Asset Management International GmbH. It invests in the public equity markets of Germany. The fund seeks to invest in stocks of companies operating across diversified sectors.