The New Ireland Fund, Inc. (NYSE:IRL – Get Rating) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totalling 800 shares, a drop of 55.6% from the April 30th total of 1,800 shares. Based on an average trading volume of 4,200 shares, the days-to-cover ratio is presently 0.2 days.
Shares of The New Ireland Fund stock opened at $8.36 on Friday. The stock’s fifty day moving average is $8.81 and its 200 day moving average is $10.36. The New Ireland Fund has a one year low of $8.12 and a one year high of $13.54.
Several hedge funds and other institutional investors have recently bought and sold shares of IRL. Wells Fargo & Company MN lifted its position in shares of The New Ireland Fund by 162.5% during the 4th quarter. Wells Fargo & Company MN now owns 8,186 shares of the financial services provider’s stock valued at $92,000 after buying an additional 5,068 shares in the last quarter. Cetera Investment Advisers purchased a new position in The New Ireland Fund during the fourth quarter valued at approximately $123,000. Wolverine Asset Management LLC increased its stake in shares of The New Ireland Fund by 57.6% in the third quarter. Wolverine Asset Management LLC now owns 16,501 shares of the financial services provider’s stock worth $203,000 after purchasing an additional 6,031 shares in the last quarter. Bulldog Investors LLP raised its position in shares of The New Ireland Fund by 13.2% during the 4th quarter. Bulldog Investors LLP now owns 105,429 shares of the financial services provider’s stock valued at $1,177,000 after purchasing an additional 12,300 shares during the period. Finally, CSS LLC IL lifted its stake in shares of The New Ireland Fund by 1.6% during the 3rd quarter. CSS LLC IL now owns 129,593 shares of the financial services provider’s stock valued at $1,597,000 after buying an additional 2,000 shares in the last quarter. 29.23% of the stock is currently owned by hedge funds and other institutional investors.
The New Ireland Fund, Inc is a close-ended balanced mutual fund launched by Bank of Ireland Asset Management (U.S.) Limited. It is managed by Kleinwort Benson Investors International Ltd. The fund invests in the public equity and fixed income markets of the Ireland. It seeks to invest in growth stocks of companies operating across diversified sectors.
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