The New Germany Fund, Inc. (NYSE:GF) Stock Short Interest Report for October

The New Germany Fund, Inc. (NYSE:GF) was the target of a significant growth in short interest during 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 trading volume of 19,348 shares, the days-to-cover ratio is presently 0.3 days.

The New Germany Fund Stock Down 0.2%

Shares of GF traded down $0.02 during trading hours on Friday, hitting $10.28. 13,369 shares of the stock were exchanged, compared to its average volume of 30,704. The stock’s 50-day moving average price is $10.83 and its two-hundred day moving average price is $11.38. The New Germany Fund has a 12-month low of $9.98 and a 12-month high of $12.49.

Institutional Investors Weigh In On The New Germany Fund

A number of hedge funds have recently modified their holdings of GF. Saba Capital Management L.P. grew its stake in The New Germany Fund by 17.4% during 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 acquiring an additional 384,585 shares in the last quarter. Bulldog Investors LLP lifted its position in The New Germany Fund by 6.1% during the first quarter. Bulldog Investors LLP now owns 532,074 shares of the investment management company’s stock worth $5,438,000 after buying an additional 30,817 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in The New Germany Fund by 4.8% during the third quarter. Blue Bell Private Wealth Management LLC now owns 123,277 shares of the investment management company’s stock worth $1,312,000 after buying an additional 5,591 shares during the last quarter. Shaker Financial Services LLC boosted its stake in The New Germany Fund by 652.1% during the third quarter. Shaker Financial Services LLC now owns 92,017 shares of the investment management company’s stock worth $979,000 after buying an additional 79,782 shares during the last quarter. Finally, Altium Capital Management LLC acquired a new position in The New Germany Fund during the first quarter worth $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.