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Saba Capital Management, L.P., a significant stakeholder in New Germany Fund Inc. (NYSE:GF), has recently increased its investment in the company. On March 3, Saba Capital acquired 12,096 shares of common stock at a price of $9.20 per share, totaling $111,283. The purchase comes as GF trades near its 52-week high of $9.30, with an impressive year-to-date return of 18.33%. According to InvestingPro, the fund has maintained dividend payments for 18 consecutive years, currently yielding 1.04%. This transaction elevates Saba Capital’s total holdings in New Germany Fund to 1,676,777 shares. The purchase was executed indirectly, reflecting Saba Capital’s continued interest in the fund, which has a market capitalization of $151.12 million. InvestingPro analysis indicates the stock is currently in overbought territory, with 5 additional key insights available to subscribers.
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