Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
In a recent transaction, Saba Capital Management, L.P., a prominent investment firm, acquired a significant number of shares in New Germany Fund Inc. (NYSE:GF). The acquisition involved 24,957 shares, purchased at a price of $9.29 per share, totaling approximately $231,850. This transaction reflects Saba Capital Management’s continued interest in the New Germany Fund, with the firm now holding a total of 1,701,734 shares following the purchase. The stock has shown strong momentum, currently trading at $10.04 and near its 52-week high of $9.65, with a notable year-to-date return of 23.7%. InvestingPro analysis indicates the stock is in overbought territory.
The transaction was reported in a filing with the Securities and Exchange Commission and was signed by Zachary Gindes on behalf of Saba Capital Management. Boaz Weinstein, a key figure associated with the investment firm, also signed the filing. Both Saba Capital Management and Weinstein are recognized as ten percent owners of New Germany Fund, underscoring their substantial stake in the company. The fund, with a market capitalization of $163.7 million, has maintained dividend payments for 18 consecutive years, currently offering a 1% yield. Get access to 6 more exclusive InvestingPro Tips and comprehensive technical analysis tools to make informed investment decisions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.