The New Germany Fund, Inc. (NYSE:GF) Sees Large Growth in Short Interest

The New Germany Fund, Inc. (NYSE:GF) was the target of a large increase in short interest in February. As of February 28th, there was short interest totalling 22,100 shares, an increase of 21.4% from the February 13th total of 18,200 shares. Based on an average trading volume of 45,100 shares, the days-to-cover ratio is presently 0.5 days.

The New Germany Fund Stock Performance

Shares of NYSE GF opened at $10.63 on Thursday. The stock has a 50 day moving average of $8.83 and a two-hundred day moving average of $8.53. The New Germany Fund has a twelve month low of $7.74 and a twelve month high of $10.65.

Institutional Investors Weigh In On The New Germany Fund

A number of large investors have recently added to or reduced their stakes in GF. Saba Capital Management L.P. lifted its holdings in The New Germany Fund by 77.6% in the 4th quarter. Saba Capital Management L.P. now owns 1,577,988 shares of the investment management company’s stock worth $12,308,000 after buying an additional 689,500 shares in the last quarter. Bulldog Investors LLP grew its stake 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 worth $2,701,000 after buying an additional 331,789 shares during the last quarter. Matisse Capital grew its position in The New Germany Fund by 7.6% in the 4th quarter. Matisse Capital now owns 91,411 shares of the investment management company’s stock worth $713,000 after purchasing an additional 6,490 shares during the last quarter. CSS LLC IL boosted its position in The New Germany Fund by 18.9% during the 4th 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 during the period. Finally, Blue Bell Private Wealth Management LLC increased its stake in The New Germany Fund by 583.7% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 46,385 shares of the investment management company’s stock valued at $362,000 after buying an additional 39,601 shares during the period.

About The New Germany Fund

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.