Saba Capital Management L.P. Has $26.52 Million Stake in The New Germany Fund, Inc. $GF

Saba Capital Management L.P. boosted its stake in shares of The New Germany Fund, Inc. (NYSE:GF) by 17.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,595,140 shares of the investment management company’s stock after purchasing an additional 384,585 shares during the quarter. The New Germany Fund comprises approximately 0.7% of Saba Capital Management L.P.’s investment portfolio, making the stock its 20th biggest position. Saba Capital Management L.P.’s holdings in The New Germany Fund were worth $26,522,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quantify Chaos Advisors LLC bought a new stake in The New Germany Fund in the 4th quarter valued at $259,000. Altium Capital Management LLC acquired a new stake in shares of The New Germany Fund during the first quarter worth $255,000. Evolve Private Wealth LLC bought a new stake in shares of The New Germany Fund in the fourth quarter valued at about $303,000. Royal Bank of Canada boosted its position in shares of 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 acquiring an additional 1,018 shares during the period. Finally, Blue Bell Private Wealth Management LLC grew its stake in shares of 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 acquiring an additional 16,779 shares in the last quarter.

The New Germany Fund Stock Down 0.2%

Shares of GF opened at $11.30 on Tuesday. The New Germany Fund, Inc. has a 12 month low of $9.98 and a 12 month high of $12.82. The firm’s 50 day moving average is $11.66 and its 200-day moving average is $11.60.

The New Germany Fund Increases Dividend

The firm also recently declared a dividend, which was paid on Monday, June 29th. Stockholders of record on Tuesday, May 26th were issued a dividend of $0.154 per share. This is an increase from The New Germany Fund’s previous dividend of $0.13. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a dividend yield of 261.0%.

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.