The New Germany Fund, Inc. (NYSE:GF) Short Interest Update

The New Germany Fund, Inc. (NYSE:GF – Get Rating) was the recipient of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 3,500 shares, a growth of 775.0% from the April 30th total of 400 shares. Based on an average daily trading volume, of 14,200 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GF. City of London Investment Management Co. Ltd. boosted its position in shares of The New Germany Fund by 20.9% during the first quarter. City of London Investment Management Co. Ltd. now owns 1,246,500 shares of the investment management company’s stock worth $14,285,000 after buying an additional 215,800 shares during the period. UBS Group AG boosted its position in shares of The New Germany Fund by 117.2% during the first quarter. UBS Group AG now owns 3,722 shares of the investment management company’s stock worth $43,000 after buying an additional 2,008 shares during the period. Royal Bank of Canada boosted its position in shares of The New Germany Fund by 1.8% during the first quarter. Royal Bank of Canada now owns 94,052 shares of the investment management company’s stock worth $1,075,000 after buying an additional 1,639 shares during the period. Bank of America Corp DE boosted its position in shares of The New Germany Fund by 36.1% during the first quarter. Bank of America Corp DE now owns 56,317 shares of the investment management company’s stock worth $643,000 after buying an additional 14,941 shares during the period. Finally, Shaker Financial Services LLC boosted its position in shares of The New Germany Fund by 3.7% during the third quarter. Shaker Financial Services LLC now owns 203,912 shares of the investment management company’s stock worth $1,419,000 after buying an additional 7,284 shares during the period.

The New Germany Fund Stock Down 0.6 %

NYSE GF opened at $8.67 on Friday. The New Germany Fund has a twelve month low of $6.81 and a twelve month high of $10.32. The stock has a 50-day moving average of $8.92 and a 200 day moving average of $8.77.

The New Germany Fund Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, May 31st. Investors of record on Monday, May 15th will be given a $0.0136 dividend. The ex-dividend date of this dividend is Friday, May 12th. This represents a yield of 0.6%.

About The New Germany Fund

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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.