The New Germany Fund, Inc. (NYSE:GF) Short Interest Up 93.2% in March

The New Germany Fund, Inc. (NYSE:GF) was the target of a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 42,700 shares, a growth of 93.2% from the February 28th total of 22,100 shares. Based on an average daily trading volume, of 44,800 shares, the days-to-cover ratio is currently 1.0 days.

The New Germany Fund Stock Performance

Shares of GF stock traded down $0.16 during mid-day trading on Friday, reaching $10.10. 21,446 shares of the company’s stock traded hands, compared to its average volume of 37,772. The company’s 50-day moving average price is $9.17 and its 200-day moving average price is $8.62. The New Germany Fund has a 12 month low of $7.74 and a 12 month high of $10.65.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Saba Capital Management L.P. increased its stake in shares of The New Germany Fund by 77.6% during the fourth quarter. Saba Capital Management L.P. now owns 1,577,988 shares of the investment management company’s stock valued at $12,308,000 after purchasing an additional 689,500 shares in the last quarter. Bulldog Investors LLP increased its position in The New Germany Fund by 2,211.0% during the 4th quarter. Bulldog Investors LLP now owns 346,795 shares of the investment management company’s stock valued at $2,701,000 after buying an additional 331,789 shares in the last quarter. Matisse Capital raised its stake in The New Germany Fund by 7.6% during the fourth quarter. Matisse Capital now owns 91,411 shares of the investment management company’s stock valued at $713,000 after buying an additional 6,490 shares during the last quarter. CSS LLC IL boosted its holdings in The New Germany Fund by 18.9% in the fourth quarter. CSS LLC IL now owns 70,623 shares of the investment management company’s stock worth $551,000 after acquiring an additional 11,204 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its stake in shares of The New Germany Fund by 583.7% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 46,385 shares of the investment management company’s stock worth $362,000 after acquiring an additional 39,601 shares during the last quarter.

The New Germany Fund Company Profile

The New Germany Fund Inc is a closed ended equity mutual fund launched by Deutsche Investment Management Americas Inc The fund is managed by Deutsche Asset Management International GmbH. It invests in the public equity markets of Germany. The fund seeks to invest in stocks of companies operating across diversified sectors.