Short Interest in The New Germany Fund, Inc. (NYSE:GF) Drops By 36.5%

The New Germany Fund, Inc. (NYSE:GF) was the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totaling 8,164 shares, a decline of 36.5% from the April 15th total of 12,861 shares. Based on an average daily trading volume, of 43,510 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On The New Germany Fund

Several hedge funds have recently modified their holdings of the stock. Saba Capital Management L.P. raised its stake in The New Germany Fund by 17.4% during the first quarter. Saba Capital Management L.P. now owns 2,595,140 shares of the investment management company’s stock valued at $26,522,000 after purchasing an additional 384,585 shares in the last quarter. Bulldog Investors LLP raised its stake in The New Germany Fund by 6.1% during the first quarter. Bulldog Investors LLP now owns 532,074 shares of the investment management company’s stock valued at $5,438,000 after purchasing an additional 30,817 shares in the last quarter. Altium Capital Management LLC purchased a new stake in The New Germany Fund during the first quarter valued at $255,000. Evolve Private Wealth LLC purchased a new stake in The New Germany Fund during the fourth quarter valued at $303,000. Finally, Blue Bell Private Wealth Management LLC raised its stake in The New Germany Fund by 20.1% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 100,443 shares of the investment management company’s stock valued at $1,147,000 after purchasing an additional 16,779 shares in the last quarter.

The New Germany Fund Price Performance

Shares of GF stock traded up $0.01 during mid-day trading on Monday, hitting $11.83. The company had a trading volume of 95,691 shares, compared to its average volume of 31,242. The New Germany Fund has a 52-week low of $9.98 and a 52-week high of $12.82. The stock’s 50 day moving average price is $11.20 and its 200-day moving average price is $11.39.

The New Germany Fund Increases Dividend

The business also recently announced a dividend, which will be paid on Monday, June 29th. Stockholders of record on Tuesday, May 26th will be issued a $0.154 dividend. This represents a dividend yield of 257.0%. This is a boost from The New Germany Fund’s previous dividend of $0.13. The ex-dividend date of this dividend is Tuesday, May 26th.

The New Germany Fund Company Profile

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.