Short Interest in The New Germany Fund, Inc. (NYSE:GF) Rises By 992.3%

The New Germany Fund, Inc. (NYSE:GFGet Rating) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totalling 14,200 shares, a growth of 992.3% from the April 15th total of 1,300 shares. Based on an average daily trading volume, of 25,400 shares, the short-interest ratio is presently 0.6 days.

Shares of NYSE GF opened at $9.97 on Thursday. The company’s 50 day simple moving average is $10.99 and its 200 day simple moving average is $14.48. The New Germany Fund has a fifty-two week low of $9.94 and a fifty-two week high of $21.37.

The firm also recently disclosed a — dividend, which will be paid on Friday, June 24th. Investors of record on Monday, May 16th will be issued a $0.7254 dividend. The ex-dividend date of this dividend is Friday, May 13th. This represents a yield of 0.6%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in The New Germany Fund in the fourth quarter valued at approximately $31,334,000. Uncommon Cents Investing LLC raised its holdings in The New Germany Fund by 18.0% in the first quarter. Uncommon Cents Investing LLC now owns 301,308 shares of the investment management company’s stock worth $3,444,000 after purchasing an additional 45,904 shares during the period. Shaker Financial Services LLC raised its holdings in The New Germany Fund by 5.4% in the first quarter. Shaker Financial Services LLC now owns 208,788 shares of the investment management company’s stock worth $2,386,000 after purchasing an additional 10,679 shares during the period. Royal Bank of Canada raised its holdings in The New Germany Fund by 2.1% in the third quarter. Royal Bank of Canada now owns 90,285 shares of the investment management company’s stock worth $1,783,000 after purchasing an additional 1,880 shares during the period. Finally, Segantii Capital Management Ltd acquired a new stake in The New Germany Fund in the fourth quarter worth $539,000.

The New Germany Fund Company Profile (Get Rating)

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.

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