The PNC Financial Services Group Inc. Decreases Holdings in The New Germany Fund, Inc. (NYSE:GF)

The PNC Financial Services Group Inc. decreased its position in shares of The New Germany Fund, Inc. (NYSE:GF) by 8.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,970 shares of the investment management company’s stock after selling 1,146 shares during the quarter. The PNC Financial Services Group Inc.’s holdings in The New Germany Fund were worth $237,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Oder Investment Management LLC purchased a new stake in shares of The New Germany Fund during the 4th quarter worth approximately $53,000. Sigma Planning Corp boosted its stake in shares of The New Germany Fund by 10.7% during the 1st quarter. Sigma Planning Corp now owns 12,417 shares of the investment management company’s stock worth $245,000 after acquiring an additional 1,204 shares in the last quarter. Arnhold LLC boosted its stake in shares of The New Germany Fund by 10.7% during the 1st quarter. Arnhold LLC now owns 20,974 shares of the investment management company’s stock worth $415,000 after acquiring an additional 2,033 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of The New Germany Fund by 0.5% during the 4th quarter. Wells Fargo & Company MN now owns 2,163,469 shares of the investment management company’s stock worth $41,171,000 after acquiring an additional 10,228 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its stake in shares of The New Germany Fund by 0.3% during the 4th quarter. Lazard Asset Management LLC now owns 2,249,137 shares of the investment management company’s stock worth $42,801,000 after acquiring an additional 5,970 shares in the last quarter.

GF stock opened at $20.73 on Friday. The New Germany Fund, Inc. has a 1 year low of $14.22 and a 1 year high of $21.69. The company has a 50 day moving average of $20.58.

The business also recently announced an annual dividend, which will be paid on Friday, June 25th. Investors of record on Monday, May 17th will be paid a $0.933 dividend. This represents a yield of 4.46%. The ex-dividend date of this dividend is Friday, May 14th.

Separately, The Goldman Sachs Group began coverage on The New Germany Fund in a research note on Friday, February 12th. They set a “neutral” rating on the stock.

The New Germany Fund Company Profile

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.

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Institutional Ownership by Quarter for The New Germany Fund (NYSE:GF)

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