Short Interest in The New Germany Fund, Inc. (NYSE:GF) Drops By 36.5%

The New Germany Fund, Inc. (NYSE:GF) saw a significant decrease in short interest in April. As of April 30th, there was short interest totaling 8,164 shares, a decrease of 36.5% from the April 15th total of 12,861 shares. Based on an average daily volume of 43,510 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Investors Weigh In On The New Germany Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Saba Capital Management L.P. raised its stake in shares of The New Germany Fund by 17.4% in the first quarter. Saba Capital Management L.P. now owns 2,595,140 shares of the investment management company’s stock valued at $26,522,000 after acquiring an additional 384,585 shares during the period. Lazard Asset Management LLC raised its stake in shares of The New Germany Fund by 3.0% in the second quarter. Lazard Asset Management LLC now owns 2,367,413 shares of the investment management company’s stock valued at $28,266,000 after acquiring an additional 69,916 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of 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 period. Bulldog Investors LLP raised its stake in shares of The New Germany Fund by 6.1% in the first quarter. Bulldog Investors LLP now owns 532,074 shares of the investment management company’s stock valued at $5,438,000 after acquiring an additional 30,817 shares during the period. Finally, Uncommon Cents Investing LLC raised its stake in shares of 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 period.

The New Germany Fund Price Performance

The New Germany Fund stock traded up $0.01 during mid-day trading on Monday, reaching $11.83. 95,691 shares of the company’s stock traded hands, compared to its average volume of 31,242. The stock has a 50 day moving average of $11.20 and a two-hundred day moving average of $11.39. The New Germany Fund has a 12-month low of $9.98 and a 12-month high of $12.82.

The New Germany Fund Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, June 29th. Stockholders of record on Tuesday, May 26th will be paid a $0.154 dividend. This is an increase from The New Germany Fund’s previous dividend of $0.13. This represents a dividend yield of 257.0%. The ex-dividend date of this dividend 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.