Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) Sees Large Increase in Short Interest

Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) was the target of a significant growth in short interest during the month of June. As of June 30th, there was short interest totaling 71,770 shares, a growth of 94.8% from the June 15th total of 36,834 shares. Based on an average daily volume of 280,404 shares, the days-to-cover ratio is currently 0.3 days.

Neuberger Berman Next Generation Connectivity Fund Price Performance

Shares of NYSE NBXG traded down $0.41 on Friday, hitting $14.87. The company had a trading volume of 950,238 shares, compared to its average volume of 231,350. Neuberger Berman Next Generation Connectivity Fund has a 12-month low of $12.32 and a 12-month high of $17.43. The business has a 50 day moving average of $16.05 and a two-hundred day moving average of $14.62.

Neuberger Berman Next Generation Connectivity Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be issued a $0.12 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 9.7%.

Hedge Funds Weigh In On Neuberger Berman Next Generation Connectivity Fund

Several hedge funds and other institutional investors have recently modified their holdings of NBXG. Altium Capital Management LLC bought a new position in Neuberger Berman Next Generation Connectivity Fund in the fourth quarter valued at approximately $2,453,000. Private Advisor Group LLC grew its stake in shares of Neuberger Berman Next Generation Connectivity Fund by 69.0% in the first quarter. Private Advisor Group LLC now owns 171,475 shares of the company’s stock valued at $2,207,000 after acquiring an additional 69,984 shares in the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Neuberger Berman Next Generation Connectivity Fund during the 4th quarter worth approximately $3,456,000. Closed End Fund Advisors Inc. acquired a new stake in shares of Neuberger Berman Next Generation Connectivity Fund during the 4th quarter valued at $627,000. Finally, Blue Bell Private Wealth Management LLC lifted its stake in shares of Neuberger Berman Next Generation Connectivity Fund by 13.6% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 360,641 shares of the company’s stock worth $5,208,000 after acquiring an additional 43,271 shares during the period.

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.