The New Germany Fund, Inc. (NYSE:GF) Stock Short Interest Jumps 120.8%

The New Germany Fund, Inc. (NYSE:GF) was the target of a large increase in short interest in October. As of October 15th, there was short interest totaling 6,032 shares, an increase of 120.8% from the September 30th total of 2,732 shares. Based on an average trading volume of 19,348 shares, the short-interest ratio is presently 0.3 days.

Institutional Trading of The New Germany Fund

A number of institutional investors and hedge funds have recently modified their holdings of GF. Saba Capital Management L.P. lifted its position in shares of The New Germany Fund by 17.4% in the 1st 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. Bulldog Investors LLP grew its position in shares of 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 buying an additional 30,817 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its position in shares of The New Germany Fund by 4.8% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 123,277 shares of the investment management company’s stock valued at $1,312,000 after buying an additional 5,591 shares during the last quarter. Shaker Financial Services LLC grew its position in shares of The New Germany Fund by 652.1% during the 3rd quarter. Shaker Financial Services LLC now owns 92,017 shares of the investment management company’s stock valued at $979,000 after buying an additional 79,782 shares during the last quarter. Finally, Altium Capital Management LLC acquired a new stake in The New Germany Fund during the first quarter worth about $255,000.

The New Germany Fund Stock Performance

GF traded down $0.02 during trading hours on Friday, hitting $10.28. 13,369 shares of the stock were exchanged, compared to its average volume of 30,704. The stock has a 50-day simple moving average of $10.83 and a 200-day simple moving average of $11.38. The New Germany Fund has a 12 month low of $9.98 and a 12 month high of $12.49.

About The New Germany Fund

The New Germany Fund, Inc (NYSE: GF) is a closed-end investment company focused primarily on providing investors with exposure to Germany’s equity markets. Rather than operating a commercial business, the fund invests in a portfolio of securities issued by German companies across a range of industries.

The fund’s investment objective has been long-term capital appreciation. Its portfolio may include common stocks and other equity-related investments, with an emphasis on companies whose principal operations, assets or revenues are connected to Germany.