Verdence Capital Advisors LLC Takes Position in The New Germany Fund, Inc. (NYSE:GF)

Verdence Capital Advisors LLC bought a new position in shares of The New Germany Fund, Inc. (NYSE:GF) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,678 shares of the investment management company’s stock, valued at approximately $83,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Matisse Capital lifted its stake in shares of The New Germany Fund by 7.6% during the 4th 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 period. Sanctuary Advisors LLC increased its stake in The New Germany Fund by 68.8% in the fourth quarter. Sanctuary Advisors LLC now owns 23,831 shares of the investment management company’s stock valued at $201,000 after purchasing an additional 9,717 shares during the last quarter. Tidal Investments LLC purchased a new position in The New Germany Fund during the third quarter worth about $198,000. Finally, Heck Capital Advisors LLC acquired a new stake in The New Germany Fund in the 4th quarter worth about $45,000.

The New Germany Fund Stock Performance

The New Germany Fund stock opened at $10.15 on Friday. The New Germany Fund, Inc. has a 1 year low of $7.74 and a 1 year high of $10.16. The firm has a 50 day moving average price of $8.46 and a 200 day moving average price of $8.43.

The New Germany Fund Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Friday, January 31st. Investors of record on Monday, December 30th were given a dividend of $0.0482 per share. This represents a yield of 1%. The ex-dividend date of this dividend was Monday, December 30th. This is an increase from The New Germany Fund’s previous semi-annual dividend of $0.02.

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.