The New America High Income Fund Inc. (NYSE:HYB) Sees Large Increase in Short Interest

The New America High Income Fund Inc. (NYSE:HYB) was the recipient of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 25,300 shares, a growth of 60.1% from the October 15th total of 15,800 shares. Based on an average trading volume of 94,800 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On The New America High Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AE Wealth Management LLC acquired a new stake in shares of The New America High Income Fund in the 2nd quarter valued at approximately $75,000. Capital Investment Advisors LLC boosted its position in shares of The New America High Income Fund by 4.0% during the second quarter. Capital Investment Advisors LLC now owns 170,416 shares of the investment management company’s stock worth $1,249,000 after purchasing an additional 6,605 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of The New America High Income Fund in the 2nd quarter valued at $148,000. Finally, US Bancorp DE bought a new stake in shares of The New America High Income Fund in the 3rd quarter valued at $99,000.

The New America High Income Fund Stock Performance

The New America High Income Fund stock traded up $0.04 during trading hours on Thursday, reaching $8.18. 17,690 shares of the company’s stock traded hands, compared to its average volume of 62,950. The New America High Income Fund has a fifty-two week low of $6.64 and a fifty-two week high of $8.41. The firm’s 50 day moving average is $8.25 and its 200-day moving average is $7.74.

The New America High Income Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.04 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date is Friday, November 15th.

About The New America High Income Fund

The New America High Income Fund Inc is a closed-ended fixed income mutual fund launched and managed by T. Rowe Price Associates, Inc The fund invests in the fixed income markets of the United States. It seeks to invest in the stocks of companies operating across the diversified sectors. The fund invests in high yield fixed-income securities i.e.