Short Interest in Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) Rises By 183.3%

Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 203,324 shares, an increase of 183.3% from the June 30th total of 71,770 shares. Based on an average daily trading volume, of 221,451 shares, the days-to-cover ratio is presently 0.9 days.

Neuberger Berman Next Generation Connectivity Fund Trading Down 1.1%

NYSE:NBXG traded down $0.16 during trading hours on Monday, reaching $14.77. 184,488 shares of the stock were exchanged, compared to its average volume of 229,164. Neuberger Berman Next Generation Connectivity Fund has a twelve month low of $12.32 and a twelve month high of $17.43. The firm has a 50 day moving average of $16.02 and a 200 day moving average of $14.65.

Neuberger Berman Next Generation Connectivity Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) annualized dividend and a yield of 9.7%.

Institutional Trading of Neuberger Berman Next Generation Connectivity Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Morgan Stanley grew its stake in shares of Neuberger Berman Next Generation Connectivity Fund by 10.2% in the fourth quarter. Morgan Stanley now owns 6,265,820 shares of the company’s stock valued at $90,478,000 after buying an additional 577,847 shares in the last quarter. Bulldog Investors LLP increased its stake in shares of Neuberger Berman Next Generation Connectivity Fund by 2.7% during the 4th quarter. Bulldog Investors LLP now owns 1,168,126 shares of the company’s stock worth $16,868,000 after purchasing an additional 31,140 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Neuberger Berman Next Generation Connectivity Fund by 71.9% in the 2nd quarter. Bank of America Corp DE now owns 946,968 shares of the company’s stock valued at $13,826,000 after purchasing an additional 395,994 shares during the period. Raymond James Financial Inc. lifted its stake in Neuberger Berman Next Generation Connectivity Fund by 2.0% in the 2nd quarter. Raymond James Financial Inc. now owns 766,255 shares of the company’s stock valued at $11,187,000 after purchasing an additional 14,953 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Neuberger Berman Next Generation Connectivity Fund by 17.8% in the 4th quarter. Royal Bank of Canada now owns 498,252 shares of the company’s stock valued at $7,193,000 after purchasing an additional 75,175 shares during the last quarter.

About Neuberger Berman Next Generation Connectivity Fund

The Neuberger Berman Next Generation Connectivity Fund (NYSE:NBXG) is an actively managed, closed-end fund dedicated to investing in companies driving the evolution of global connectivity infrastructure. Launched in February 2024 by Neuberger Berman, NBXG seeks total return by building a diversified portfolio of equity and equity-related securities in firms involved in 5G networks, fiber-optic systems, satellite communications, data centers, cloud computing, and other emerging technologies that support faster and more reliable digital connections.

Under its investment strategy, NBXG allocates capital across hardware and software providers, telecommunications carriers, semiconductor manufacturers, and equipment suppliers that benefit from the rollout and expansion of next-generation networks.