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

The New Germany Fund, Inc. (NYSE:GF) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totaling 24,687 shares, an increase of 202.4% from the April 30th total of 8,164 shares. Based on an average trading volume of 48,383 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Trading of The New Germany Fund

Several hedge funds and other institutional investors have recently made changes to their positions in GF. Royal Bank of Canada boosted its holdings in The New Germany Fund by 1.1% in the first quarter. Royal Bank of Canada now owns 93,573 shares of the investment management company’s stock valued at $918,000 after acquiring an additional 1,018 shares during the last quarter. Uncommon Cents Investing LLC boosted its holdings in The New Germany Fund by 0.6% in the fourth quarter. Uncommon Cents Investing LLC now owns 365,906 shares of the investment management company’s stock valued at $4,179,000 after acquiring an additional 2,309 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in 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 valued at $24,461,000 after acquiring an additional 7,587 shares during the last quarter. Bulldog Investors LLP boosted its holdings in The New Germany Fund by 2.0% in the fourth quarter. Bulldog Investors LLP now owns 501,257 shares of the investment management company’s stock valued at $5,724,000 after acquiring an additional 9,778 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in The New Germany Fund by 20.1% in 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 acquiring an additional 16,779 shares during the last quarter.

The New Germany Fund Stock Performance

NYSE:GF opened at $12.19 on Friday. The stock’s 50-day moving average is $11.36 and its 200-day moving average is $11.44. The New Germany Fund has a 1-year low of $9.98 and a 1-year high of $12.82.

The New Germany Fund Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, June 29th. Stockholders of record on Tuesday, May 26th will be issued a dividend of $0.154 per share. This represents a dividend yield of 261.0%. This is an increase from The New Germany Fund’s previous dividend of $0.13. The ex-dividend date 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.