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

The New Germany Fund, Inc. (NYSE:GF) saw a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 42,700 shares, a growth of 93.2% from the February 28th total of 22,100 shares. Based on an average daily volume of 44,800 shares, the days-to-cover ratio is currently 1.0 days.

The New Germany Fund Stock Down 1.6 %

The New Germany Fund stock traded down $0.16 during mid-day trading on Friday, reaching $10.10. 21,446 shares of the stock traded hands, compared to its average volume of 37,772. The business’s 50-day moving average is $9.17 and its 200-day moving average is $8.62. The New Germany Fund has a 12-month low of $7.74 and a 12-month high of $10.65.

Institutional Investors Weigh In On The New Germany Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Saba Capital Management L.P. lifted its stake in shares of The New Germany Fund by 77.6% in the 4th quarter. Saba Capital Management L.P. now owns 1,577,988 shares of the investment management company’s stock worth $12,308,000 after purchasing an additional 689,500 shares during the period. Bulldog Investors LLP increased its holdings in The New Germany Fund by 2,211.0% during the fourth quarter. Bulldog Investors LLP now owns 346,795 shares of the investment management company’s stock valued at $2,701,000 after buying an additional 331,789 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its position in The New Germany Fund by 583.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 46,385 shares of the investment management company’s stock worth $362,000 after acquiring an additional 39,601 shares during the period. Tidal Investments LLC purchased a new position in shares of The New Germany Fund during the 3rd quarter worth $198,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of The New Germany Fund during the 3rd quarter valued at $126,000.

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.