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

The New Germany Fund, Inc. (NYSE:GF) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 18,400 shares, a growth 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 presently 0.8 days.

The New Germany Fund Stock Up 0.4 %

NYSE GF traded up $0.03 during trading hours on Thursday, hitting $8.06. The company had a trading volume of 20,587 shares, compared to its average volume of 32,709. The firm has a 50 day simple moving average of $8.52 and a 200 day simple moving average of $8.46. The New Germany Fund has a 52 week low of $7.90 and a 52 week high of $8.99.

Hedge Funds Weigh In On The New Germany Fund

A number of hedge funds have recently made changes to their positions in the business. Wolverine Asset Management LLC raised its stake in shares of The New Germany Fund by 88.9% during the 2nd quarter. Wolverine Asset Management LLC now owns 109,644 shares of the investment management company’s stock valued at $892,000 after buying an additional 51,606 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in The New Germany Fund by 1.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,361,549 shares of the investment management company’s stock worth $19,211,000 after acquiring an additional 22,390 shares during the period. Tidal Investments LLC purchased a new stake in The New Germany Fund during the 3rd quarter worth $198,000. Matisse Capital raised its stake in shares of The New Germany Fund by 23.3% in the 2nd quarter. Matisse Capital now owns 75,215 shares of the investment management company’s stock valued at $612,000 after purchasing an additional 14,214 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in The New Germany Fund in the 3rd quarter worth about $126,000.

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.