The New Germany Fund (GF) 10% Owner L.P. Buys $907K of Stock

Ten-percent owner Saba Capital Management, L.P. bought 87,623 shares of The New Germany Fund, Inc. (GF) on October 20, 2026. According to a Form 4 filed with the SEC, the shares were acquired at a price of $10.35 each, for a total investment of about $906,898. The stock closed at $10.43 on the day of the trade. Following this purchase, the group holds 3,893,710 shares, which is a 2.3% increase in its stake.

GF The New Germany Fund, Inc.

$10.43 ▼ -7.94% year to date

1M 3M YTD

Daily close · Oct 20, 2026

Inside Saba Capital Management's The New Germany Fund Trade

This purchase continues a steady string of recent buying activity by Saba Capital Management in the fund. On October 20, 2026, the 10% owner added 87,623 shares at $10.35 apiece. The transaction boosted the firm's total ownership to 3,893,710 shares. The filing shows the trade was made in the open market and was not part of a pre-arranged Rule 10b5-1 trading plan.

Other Institutional Activity in The New Germany Fund, Inc.

Other major investors have also adjusted their positions in the closed-end fund. Saba Capital Management previously grew its holdings by 1,007,688 shares, ending with 3,602,815 shares worth about $37,631,401. Lazard Asset Management LLC grew its holdings by 62,611 shares, ending with 2,398,831 shares worth about $25,055,789. Allspring Global Investments Holdings, LLC cut 321,742 shares to finish with 1,697,984 shares valued at roughly $17,735,442. 1607 Capital Partners, LLC reduced its stake by 254,968 shares, leaving it with 811,397 shares worth about $8,475,041. Bulldog Investors, LLP kept its holdings steady at 532,074 shares valued at about $5,557,512.

The New Germany Fund, Inc. Stock Up 1.1%

The shares recently traded around $10.43, which is about equal to the closing price on the transaction date. The stock trades closer to its 52-week low of $9.98 than its high of $12.49. The recent price sits below its 50-day moving average of $11.04 and below its 200-day moving average of $11.44.

Recent Earnings

The fund reported trailing twelve-month revenue of $3.5 million and an earnings per share of -$0.47. It operates without a traditional positive P/E ratio due to negative earnings over the period.

Dividend

The fund pays an annual dividend rate of $0.28 per share, giving it a dividend yield of 2.75% with a payout ratio of 4.3%.

Insider Buying and Selling at The New Germany Fund, Inc.

Insider transactions ahead of this filing included several purchases by the 10% owner. On October 15, 2026, Saba Capital Management bought 16,577 shares at an average price of $10.30 for $170,743. On October 16, 2026, the firm bought 15,042 shares at $10.31 for $155,083.02. On October 19, 2026, the group picked up another 15,046 shares at $10.34 for $155,575.64, alongside an additional purchase of 30,088 shares valued at $310,659.

About The New Germany Fund, Inc.

The New Germany Fund, Inc. is a closed-end equity mutual fund that invests in small and mid-sized public companies in Germany across a mix of sectors.

Bottom Line

Investors tracking The New Germany Fund, Inc. should watch for future SEC filings from major stakeholders and upcoming financial reports to gauge institutional sentiment. This trade simply reflects ongoing accumulation by a major investor.