The New Germany Fund, Inc. (NYSE:GF) Sees Significant Growth in Short Interest

The New Germany Fund, Inc. (NYSE:GF) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 24,687 shares, a growth of 202.4% from the April 30th total of 8,164 shares. Based on an average trading volume of 48,383 shares, the short-interest ratio is currently 0.5 days.

The New Germany Fund Trading Up 0.4%

Shares of GF stock opened at $12.19 on Friday. The business’s 50 day simple moving average is $11.36 and its 200 day simple moving average is $11.44. The New Germany Fund has a one year low of $9.98 and a one year high of $12.82.

The New Germany Fund Increases Dividend

The business also recently announced a dividend, which will be paid on Monday, June 29th. Investors of record on Tuesday, May 26th will be issued a $0.154 dividend. The ex-dividend date is Tuesday, May 26th. This is a boost from The New Germany Fund’s previous dividend of $0.13. This represents a yield of 261.0%.

Hedge Funds Weigh In On The New Germany Fund

Several institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its stake in The New Germany Fund by 1.1% in the first quarter. Royal Bank of Canada now owns 93,573 shares of the investment management company’s stock valued at $918,000 after buying an additional 1,018 shares during the period. Uncommon Cents Investing LLC lifted its stake in 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 buying an additional 2,309 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in 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 buying an additional 7,587 shares during the period. Bulldog Investors LLP lifted its stake in The New Germany Fund by 2.0% in the fourth quarter. Bulldog Investors LLP now owns 501,257 shares of the investment management company’s stock valued at $5,724,000 after buying an additional 9,778 shares during the period. Finally, Blue Bell Private Wealth Management LLC lifted its stake in The New Germany Fund by 20.1% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 100,443 shares of the investment management company’s stock valued at $1,147,000 after buying an additional 16,779 shares during the period.

About The New Germany Fund

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.