Neuberger Berman Next Generation Connectivity Fund (NYSE:NBXG) Stock Falls 2.8% – Should You Sell?

Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) shares fell 2.8% on Thursday. The company traded as low as $14.57 and last traded at $14.7150. Approximately 247,041 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 206,183 shares. The stock had previously closed at $15.14.

Neuberger Berman Next Generation Connectivity Fund Price Performance

The company’s fifty day simple moving average is $15.38 and its 200 day simple moving average is $15.41.

Neuberger Berman Next Generation Connectivity Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.12 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date is Thursday, October 15th.

Institutional Trading of Neuberger Berman Next Generation Connectivity Fund

A number of institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC lifted its stake in Neuberger Berman Next Generation Connectivity Fund by 12.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 230,879 shares of the company’s stock valued at $2,971,000 after purchasing an additional 25,590 shares during the last quarter. Altium Capital Management LLC grew its stake in shares of Neuberger Berman Next Generation Connectivity Fund by 20.4% during the first quarter. Altium Capital Management LLC now owns 204,562 shares of the company’s stock worth $2,633,000 after buying an additional 34,689 shares during the last quarter. Quantedge Capital Pte Ltd increased its holdings in shares of Neuberger Berman Next Generation Connectivity Fund by 81.1% during the first quarter. Quantedge Capital Pte Ltd now owns 193,662 shares of the company’s stock worth $2,492,000 after buying an additional 86,700 shares in the last quarter. Private Advisor Group LLC increased its holdings in shares of Neuberger Berman Next Generation Connectivity Fund by 69.0% during the first quarter. Private Advisor Group LLC now owns 171,475 shares of the company’s stock worth $2,207,000 after buying an additional 69,984 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of Neuberger Berman Next Generation Connectivity Fund by 5.5% in the 2nd quarter. NewEdge Advisors LLC now owns 123,850 shares of the company’s stock valued at $2,048,000 after acquiring an additional 6,492 shares during the last quarter.

About Neuberger Berman Next Generation Connectivity Fund

Neuberger Berman Next Generation Connectivity Fund Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol NBXG. The fund is managed by Neuberger Berman Investment Advisers LLC, an affiliate of global investment manager Neuberger Berman.

The fund seeks to provide investors with exposure to companies involved in the development and expansion of next-generation connectivity. Its investment focus may include businesses associated with wireless communications, 5G networks, broadband, data centers, cloud computing, digital infrastructure, communications equipment, and related technologies and services.

NBXG invests primarily in publicly traded companies and may allocate its portfolio across markets worldwide, allowing it to participate in connectivity-related growth opportunities in the United States and international markets.