The New Germany Fund, Inc. (NYSE:GF) Short Interest Down 36.5% in April

The New Germany Fund, Inc. (NYSE:GF) was the target of a significant drop in short interest in April. As of April 30th, there was short interest totaling 8,164 shares, a drop of 36.5% from the April 15th total of 12,861 shares. Based on an average daily trading volume, of 43,510 shares, the days-to-cover ratio is currently 0.2 days.

The New Germany Fund Trading Down 1.0%

NYSE:GF opened at $11.73 on Wednesday. The New Germany Fund has a 52-week low of $9.98 and a 52-week high of $12.82. The stock has a 50-day simple moving average of $11.21 and a 200 day simple moving average of $11.39.

The New Germany Fund Increases Dividend

The company also recently disclosed a dividend, which will be paid on Monday, June 29th. Investors of record on Tuesday, May 26th will be issued a dividend of $0.154 per share. The ex-dividend date is Tuesday, May 26th. This is a boost from The New Germany Fund’s previous dividend of $0.13. This represents a dividend yield of 257.0%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GF. Royal Bank of Canada grew its holdings in shares of The New Germany Fund by 1.1% during the first quarter. Royal Bank of Canada now owns 93,573 shares of the investment management company’s stock worth $918,000 after buying an additional 1,018 shares in the last quarter. Lazard Asset Management LLC grew 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 in the last quarter. Allspring Global Investments Holdings LLC grew 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 in the last quarter. Uncommon Cents Investing LLC grew its stake in 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 purchasing an additional 2,309 shares in the last quarter. Finally, Quantify Chaos Advisors LLC bought a new position in The New Germany Fund in the fourth quarter valued at approximately $259,000.

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.