The New Germany Fund (NYSE:GF) Shares Cross Below 200-Day Moving Average – Here’s Why

The New Germany Fund, Inc. (NYSE:GF) shares passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $8.42 and traded as low as $8.40. The New Germany Fund shares last traded at $8.41, with a volume of 98,052 shares.

The New Germany Fund Stock Up 0.5 %

The business’s fifty day moving average is $8.41 and its two-hundred day moving average is $8.42.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in The New Germany Fund by 1.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,361,549 shares of the investment management company’s stock worth $19,211,000 after purchasing an additional 22,390 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 worth $785,000 after buying an additional 12,120 shares during the last quarter. Wolverine Asset Management LLC boosted its holdings in shares of 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 valued at $892,000 after buying an additional 51,606 shares in the last quarter. Matisse Capital grew its position 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 buying an additional 14,214 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in The New Germany Fund during the 3rd quarter worth $126,000.

The New Germany Fund Company Profile

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.