The New Germany Fund (NYSE:GF) Shares Pass Above 50-Day Moving Average – Should You Sell?

The New Germany Fund, Inc. (NYSE:GF)’s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $8.05 and traded as high as $8.21. The New Germany Fund shares last traded at $8.16, with a volume of 26,156 shares trading hands.

The New Germany Fund Stock Performance

The company’s 50 day moving average is $8.05 and its 200-day moving average is $8.33.

The New Germany Fund Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, January 31st. Stockholders of record on Monday, December 30th will be issued a dividend of $0.0482 per share. This is an increase from The New Germany Fund’s previous semi-annual dividend of $0.02. The ex-dividend date of this dividend is Monday, December 30th. This represents a dividend yield of 1%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Matisse Capital boosted its holdings in The New Germany Fund by 7.6% during the fourth quarter. Matisse Capital now owns 91,411 shares of the investment management company’s stock worth $713,000 after purchasing an additional 6,490 shares during the last quarter. Heck Capital Advisors LLC bought a new position in shares of The New Germany Fund during the 4th quarter worth approximately $45,000. Tidal Investments LLC purchased a new position in shares of The New Germany Fund in the 3rd quarter worth approximately $198,000. Sanctuary Advisors LLC purchased a new position in shares of The New Germany Fund in the 3rd quarter worth approximately $126,000. Finally, Logan Stone Capital LLC grew its holdings in shares of The New Germany Fund by 14.4% in the second quarter. Logan Stone Capital LLC now owns 96,506 shares of the investment management company’s stock valued at $785,000 after acquiring an additional 12,120 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.