Short Interest in Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) Rises By 102.8%

Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXGGet Rating) was the target of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 50,700 shares, an increase of 102.8% from the April 15th total of 25,000 shares. Based on an average daily trading volume, of 284,400 shares, the days-to-cover ratio is currently 0.2 days.

Shares of NBXG traded up 0.54 on Friday, reaching 11.08. The stock had a trading volume of 197,800 shares, compared to its average volume of 298,983. The company’s 50-day moving average price is 12.51. Neuberger Berman Next Generation Connectivity Fund has a 12-month low of 10.06 and a 12-month high of 20.76.

The company also recently declared a monthly dividend, which will be paid on Tuesday, May 31st. Investors of record on Monday, May 16th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 10.83%.

A number of institutional investors have recently bought and sold shares of the business. Karpus Management Inc. purchased a new stake in shares of Neuberger Berman Next Generation Connectivity Fund during the 4th quarter valued at $27,427,000. Saba Capital Management L.P. acquired a new stake in shares of Neuberger Berman Next Generation Connectivity Fund during the 4th quarter valued at about $9,711,000. Lazard Asset Management LLC grew its position in shares of Neuberger Berman Next Generation Connectivity Fund by 96.1% during the 4th quarter. Lazard Asset Management LLC now owns 592,478 shares of the company’s stock valued at $10,249,000 after acquiring an additional 290,278 shares during the period. Bank of America Corp DE lifted its stake in Neuberger Berman Next Generation Connectivity Fund by 88.5% in the 4th quarter. Bank of America Corp DE now owns 507,275 shares of the company’s stock valued at $8,776,000 after buying an additional 238,144 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Neuberger Berman Next Generation Connectivity Fund by 179.5% in the 4th quarter. Wells Fargo & Company MN now owns 345,424 shares of the company’s stock valued at $5,976,000 after buying an additional 221,837 shares in the last quarter.

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