The New Germany Fund, Inc. (NYSE:GF) Sees Large Increase in Short Interest

The New Germany Fund, Inc. (NYSE:GF) was the target of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 18,400 shares, an increase of 196.8% from the October 31st total of 6,200 shares. Based on an average daily trading volume, of 23,600 shares, the days-to-cover ratio is currently 0.8 days.

The New Germany Fund Price Performance

GF traded up $0.03 during mid-day trading on Thursday, reaching $8.06. 20,587 shares of the stock were exchanged, compared to its average volume of 32,709. The New Germany Fund has a 1 year low of $7.90 and a 1 year high of $8.99. The company has a 50 day moving average price of $8.52 and a two-hundred day moving average price of $8.46.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new stake in The New Germany Fund in the third quarter worth $126,000. Tidal Investments LLC purchased a new position in The New Germany Fund in the third quarter worth about $198,000. Matisse Capital boosted its position in The New Germany Fund by 23.3% in the second quarter. Matisse Capital now owns 75,215 shares of the investment management company’s stock worth $612,000 after purchasing an additional 14,214 shares during the last quarter. Logan Stone Capital LLC lifted its position in shares of The New Germany Fund by 14.4% during the 2nd quarter. Logan Stone Capital LLC now owns 96,506 shares of the investment management company’s stock valued at $785,000 after buying an additional 12,120 shares in the last quarter. Finally, Wolverine Asset Management LLC lifted its holdings in The New Germany Fund by 88.9% in the 2nd quarter. Wolverine Asset Management LLC now owns 109,644 shares of the investment management company’s stock worth $892,000 after purchasing an additional 51,606 shares in the last quarter.

About The New Germany Fund

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.