Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) Short Interest Down 73.4% in July

Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) was the target of a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 54,059 shares, a decline of 73.4% from the July 15th total of 203,324 shares. Based on an average daily volume of 290,647 shares, the short-interest ratio is currently 0.2 days.

Neuberger Berman Next Generation Connectivity Fund Price Performance

NBXG traded up $0.08 during mid-day trading on Friday, reaching $15.87. 132,712 shares of the company traded hands, compared to its average volume of 226,776. The company’s fifty day moving average price is $15.72 and its 200-day moving average price is $14.70. Neuberger Berman Next Generation Connectivity Fund has a 52-week low of $12.32 and a 52-week high of $17.43.

Neuberger Berman Next Generation Connectivity Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a c) annualized dividend and a dividend yield of 9.1%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of NBXG. Morgan Stanley boosted its position in Neuberger Berman Next Generation Connectivity Fund by 10.2% in the fourth quarter. Morgan Stanley now owns 6,265,820 shares of the company’s stock worth $90,478,000 after purchasing an additional 577,847 shares during the last quarter. Bulldog Investors LLP lifted its stake in shares of Neuberger Berman Next Generation Connectivity Fund by 2.7% in the 4th quarter. Bulldog Investors LLP now owns 1,168,126 shares of the company’s stock worth $16,868,000 after purchasing an additional 31,140 shares during the period. Bank of America Corp DE lifted its stake in shares of Neuberger Berman Next Generation Connectivity Fund by 71.9% in the 2nd quarter. Bank of America Corp DE now owns 946,968 shares of the company’s stock worth $13,826,000 after purchasing an additional 395,994 shares during the period. Raymond James Financial Inc. boosted its holdings in shares of Neuberger Berman Next Generation Connectivity Fund by 2.0% in the second quarter. Raymond James Financial Inc. now owns 766,255 shares of the company’s stock worth $11,187,000 after buying an additional 14,953 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Neuberger Berman Next Generation Connectivity Fund by 17.8% in the fourth quarter. Royal Bank of Canada now owns 498,252 shares of the company’s stock worth $7,193,000 after buying an additional 75,175 shares during the last quarter.

Neuberger Berman Next Generation Connectivity Fund Company Profile

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.