Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) Short Interest Update

Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 29,410 shares, a growth of 188.7% from the February 26th total of 10,188 shares. Based on an average daily volume of 216,560 shares, the days-to-cover ratio is currently 0.1 days.

Neuberger Berman Next Generation Connectivity Fund Stock Performance

NYSE:NBXG traded down $0.30 during trading hours on Friday, hitting $12.52. The company’s stock had a trading volume of 170,908 shares, compared to its average volume of 236,914. Neuberger Berman Next Generation Connectivity Fund has a twelve month low of $10.05 and a twelve month high of $15.65. The stock has a fifty day simple moving average of $13.55 and a 200-day simple moving average of $14.39.

Neuberger Berman Next Generation Connectivity Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 16th will be issued a $0.12 dividend. This represents a c) dividend on an annualized basis and a yield of 11.5%. The ex-dividend date of this dividend is Monday, March 16th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NBXG. Morgan Stanley boosted its stake in shares of Neuberger Berman Next Generation Connectivity Fund by 10.2% in the 4th quarter. Morgan Stanley now owns 6,265,820 shares of the company’s stock valued at $90,478,000 after purchasing an additional 577,847 shares during the last quarter. Bulldog Investors LLP raised its stake in Neuberger Berman Next Generation Connectivity Fund by 2.7% during the fourth quarter. Bulldog Investors LLP now owns 1,168,126 shares of the company’s stock worth $16,868,000 after buying an additional 31,140 shares during the last quarter. Bank of America Corp DE lifted its holdings in Neuberger Berman Next Generation Connectivity Fund by 71.9% in the second quarter. Bank of America Corp DE now owns 946,968 shares of the company’s stock valued at $13,826,000 after buying an additional 395,994 shares during the period. City of London Investment Management Co. Ltd. lifted its holdings in Neuberger Berman Next Generation Connectivity Fund by 297.5% in the third quarter. City of London Investment Management Co. Ltd. now owns 836,518 shares of the company’s stock valued at $12,866,000 after buying an additional 626,077 shares during the period. Finally, Raymond James Financial Inc. boosted its position in Neuberger Berman Next Generation Connectivity Fund by 2.0% during the second quarter. Raymond James Financial Inc. now owns 766,255 shares of the company’s stock valued at $11,187,000 after acquiring an additional 14,953 shares during the last quarter.

About Neuberger Berman Next Generation Connectivity Fund

The Neuberger Berman Next Generation Connectivity Fund (NYSE:NBXG) is an actively managed, closed-end fund dedicated to investing in companies driving the evolution of global connectivity infrastructure. Launched in February 2024 by Neuberger Berman, NBXG seeks total return by building a diversified portfolio of equity and equity-related securities in firms involved in 5G networks, fiber-optic systems, satellite communications, data centers, cloud computing, and other emerging technologies that support faster and more reliable digital connections.

Under its investment strategy, NBXG allocates capital across hardware and software providers, telecommunications carriers, semiconductor manufacturers, and equipment suppliers that benefit from the rollout and expansion of next-generation networks.