The New Germany Fund (NYSE:GF) Shares Pass Below 200-Day Moving Average of $8.50

The New Germany Fund, Inc. (NYSE:GF)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.50 and traded as low as $8.14. The New Germany Fund shares last traded at $8.18, with a volume of 71,328 shares traded.

The New Germany Fund Stock Performance

The business’s 50 day moving average is $8.50 and its 200 day moving average is $8.50.

The New Germany Fund Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, June 4th. Stockholders of record on Friday, May 24th were given a dividend of $0.0239 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a dividend yield of 0.9%.

Institutional Investors Weigh In On The New Germany Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Uncommon Cents Investing LLC increased its stake in The New Germany Fund by 0.5% in the first quarter. Uncommon Cents Investing LLC now owns 308,220 shares of the investment management company’s stock valued at $2,685,000 after purchasing an additional 1,420 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of The New Germany Fund by 773.6% in the 4th quarter. International Assets Investment Management LLC now owns 8,989 shares of the investment management company’s stock valued at $79,000 after buying an additional 7,960 shares during the last quarter. Karpus Management Inc. acquired a new stake in The New Germany Fund during the 4th quarter worth $200,000. City of London Investment Management Co. Ltd. lifted its position in The New Germany Fund by 3.1% in the fourth quarter. City of London Investment Management Co. Ltd. now owns 1,224,799 shares of the investment management company’s stock valued at $10,705,000 after acquiring an additional 37,139 shares during the last quarter. Finally, 1607 Capital Partners LLC lifted its position in The New Germany Fund by 3.4% in the fourth quarter. 1607 Capital Partners LLC now owns 1,630,423 shares of the investment management company’s stock valued at $14,250,000 after acquiring an additional 54,369 shares during 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.