Short Interest in The New Germany Fund, Inc. (NYSE:GF) Drops By 46.5%

The New Germany Fund, Inc. (NYSE:GF) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 8,451 shares, a drop of 46.5% from the June 30th total of 15,808 shares. Based on an average daily volume of 22,689 shares, the days-to-cover ratio is currently 0.4 days.

The New Germany Fund Stock Performance

GF stock traded down $0.10 during midday trading on Friday, hitting $11.21. The company’s stock had a trading volume of 35,525 shares, compared to its average volume of 33,740. The New Germany Fund has a 52-week low of $9.98 and a 52-week high of $12.82. The firm has a 50-day simple moving average of $11.62 and a 200-day simple moving average of $11.58.

The New Germany Fund Increases Dividend

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

Institutional Trading of The New Germany Fund

Several institutional investors have recently modified their holdings of GF. Saba Capital Management L.P. raised its position in 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 during the last quarter. Lazard Asset Management LLC increased its stake in The New Germany Fund by 3.0% in the second quarter. Lazard Asset Management LLC now owns 2,367,413 shares of the investment management company’s stock valued at $28,266,000 after purchasing an additional 69,916 shares during the period. Allspring Global Investments Holdings LLC increased its stake in The New Germany Fund by 0.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 2,141,916 shares of the investment management company’s stock valued at $24,461,000 after purchasing an additional 7,587 shares during the period. Bulldog Investors LLP raised its holdings in shares of The New Germany Fund by 6.1% in the first quarter. Bulldog Investors LLP now owns 532,074 shares of the investment management company’s stock valued at $5,438,000 after buying an additional 30,817 shares during the last quarter. Finally, Uncommon Cents Investing LLC raised its holdings in shares of The New Germany Fund by 0.6% in the fourth quarter. Uncommon Cents Investing LLC now owns 365,906 shares of the investment management company’s stock valued at $4,179,000 after buying an additional 2,309 shares during the last quarter.

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.