The New Germany Fund (NYSE:GF) Stock Price Crosses Below 200 Day Moving Average of $8.46

The New Germany Fund, Inc. (NYSE:GF)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.46 and traded as low as $8.28. The New Germany Fund shares last traded at $8.35, with a volume of 15,988 shares traded.

The New Germany Fund Price Performance

The company has a 50 day simple moving average of $8.37 and a 200-day simple moving average of $8.46.

Hedge Funds Weigh In On The New Germany Fund

A number of large investors have recently added to or reduced their stakes in GF. Karpus Management Inc. increased its stake in The New Germany Fund by 404.3% in the 1st quarter. Karpus Management Inc. now owns 115,383 shares of the investment management company’s stock worth $1,005,000 after purchasing an additional 92,501 shares during the period. Matisse Capital purchased a new position in shares of The New Germany Fund in the first quarter worth $531,000. 1607 Capital Partners LLC raised its holdings in The New Germany Fund by 3.4% during the 4th quarter. 1607 Capital Partners LLC now owns 1,630,423 shares of the investment management company’s stock valued at $14,250,000 after buying an additional 54,369 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in The New Germany Fund by 88.9% during the 2nd quarter. Wolverine Asset Management LLC now owns 109,644 shares of the investment management company’s stock valued at $892,000 after buying an additional 51,606 shares during the last quarter. Finally, City of London Investment Management Co. Ltd. boosted its position in The New Germany Fund by 3.1% during the 4th quarter. City of London Investment Management Co. Ltd. now owns 1,224,799 shares of the investment management company’s stock valued at $10,705,000 after buying an additional 37,139 shares during the period.

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.