The New Germany Fund, Inc. (NYSE:GF) Stock Short Interest Jumps 120.8%

The New Germany Fund, Inc. (NYSE:GF) saw a significant growth in short interest in the month of October. As of October 15th, there was short interest totaling 6,032 shares, a growth of 120.8% from the September 30th total of 2,732 shares. Based on an average daily volume of 19,348 shares, the short-interest ratio is currently 0.3 days.

The New Germany Fund Trading Down 0.2%

Shares of NYSE GF traded down $0.02 during trading on Friday, reaching $10.28. 13,369 shares of the stock were exchanged, compared to its average volume of 30,704. The business’s 50-day moving average price is $10.83 and its 200 day moving average price is $11.38. The New Germany Fund has a twelve month low of $9.98 and a twelve month high of $12.49.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Saba Capital Management L.P. raised its position in shares of The New Germany Fund by 17.4% in the 1st 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 purchasing an additional 384,585 shares in the last quarter. Bulldog Investors LLP boosted its stake in The New Germany Fund by 6.1% during the 1st 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 last quarter. Blue Bell Private Wealth Management LLC boosted its stake in The New Germany Fund by 4.8% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 123,277 shares of the investment management company’s stock valued at $1,312,000 after acquiring an additional 5,591 shares during the last quarter. Shaker Financial Services LLC increased its holdings in The New Germany Fund by 652.1% in the third quarter. Shaker Financial Services LLC now owns 92,017 shares of the investment management company’s stock valued at $979,000 after buying an additional 79,782 shares during the last quarter. Finally, Altium Capital Management LLC acquired a new stake in The New Germany Fund during the first quarter valued at approximately $255,000.

About The New Germany Fund

The New Germany Fund, Inc (NYSE: GF) is a closed-end investment company focused primarily on providing investors with exposure to Germany’s equity markets. Rather than operating a commercial business, the fund invests in a portfolio of securities issued by German companies across a range of industries.

The fund’s investment objective has been long-term capital appreciation. Its portfolio may include common stocks and other equity-related investments, with an emphasis on companies whose principal operations, assets or revenues are connected to Germany.