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

The New Germany Fund, Inc. (NYSE:GF) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 22,100 shares, an increase of 21.4% from the February 13th total of 18,200 shares. Based on an average daily trading volume, of 45,100 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GF. Sanctuary Advisors LLC purchased a new position in shares of The New Germany Fund in the third quarter valued at $126,000. Tidal Investments LLC purchased a new position in shares of The New Germany Fund in the third quarter valued at $198,000. Heck Capital Advisors LLC purchased a new position in shares of The New Germany Fund in the fourth quarter valued at $45,000. Matisse Capital boosted its stake in shares of The New Germany Fund by 7.6% in the fourth quarter. Matisse Capital now owns 91,411 shares of the investment management company’s stock valued at $713,000 after purchasing an additional 6,490 shares during the period. Finally, Verdence Capital Advisors LLC purchased a new position in shares of The New Germany Fund in the fourth quarter valued at $83,000.

The New Germany Fund Stock Performance

Shares of GF stock remained flat at $10.63 on Wednesday. 20,477 shares of the stock traded hands, compared to its average volume of 37,712. The business has a 50-day simple moving average of $8.78 and a 200 day simple moving average of $8.52. The New Germany Fund has a fifty-two week low of $7.74 and a fifty-two week high of $10.65.

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.