The New Germany Fund, Inc. (NYSE:GF) Shares Shorted: Short Interest Down 87.7% in September

The New Germany Fund, Inc. (NYSE:GF) was the recipient of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 501 shares, a drop of 87.7% from the August 31st total of 4,083 shares. Based on an average daily volume of 26,758 shares, the short-interest ratio is currently 0.0 days.

The New Germany Fund Trading Down 0.8%

The New Germany Fund stock traded down $0.09 during mid-day trading on Friday, hitting $10.72. The stock had a trading volume of 20,638 shares, compared to its average volume of 31,856. The New Germany Fund has a one year low of $9.98 and a one year high of $12.49. The firm’s 50 day moving average is $11.36 and its 200 day moving average is $11.41.

Hedge Funds Weigh In On The New Germany Fund

A number of hedge funds have recently made changes to their positions in the business. Saba Capital Management L.P. raised its stake in The New Germany Fund by 17.4% during the 1st quarter. Saba Capital Management L.P. now owns 2,595,140 shares of the investment management company’s stock valued at $26,522,000 after purchasing an additional 384,585 shares during the period. Bulldog Investors LLP lifted its holdings in The New Germany Fund by 6.1% in the 1st quarter. Bulldog Investors LLP now owns 532,074 shares of the investment management company’s stock worth $5,438,000 after purchasing an additional 30,817 shares in the last quarter. Finally, Altium Capital Management LLC bought a new position in The New Germany Fund in the 1st quarter worth approximately $255,000.

About The New Germany Fund

The New Germany Fund, Inc (NYSE:GF) is a closed-end investment company designed to provide investors with exposure to the German equity market. Rather than operating as an industrial or commercial business, the fund invests primarily in publicly traded securities of German companies and seeks long-term capital appreciation through a geographically focused portfolio.

The fund’s investments may span multiple sectors of the German economy, including industrials, financial services, technology, consumer products, health care and communications.