The New Ireland Fund, Inc. (NYSE:IRL) Short Interest Update

kopsource · Jan 19, 2023 23:02

The New Ireland Fund, Inc. (NYSE:IRL – Get Rating) saw a significant growth in short interest in December. As of December 30th, there was short interest totalling 6,400 shares, a growth of 814.3% from the December 15th total of 700 shares. Based on an average daily volume of 10,400 shares, the short-interest ratio is currently 0.6 days.

Insider Activity

In other The New Ireland Fund news, major shareholder Saba Capital Management, L.P. purchased 5,146 shares of the stock in a transaction dated Monday, October 24th. The shares were acquired at an average price of $7.14 per share, for a total transaction of $36,742.44. Following the completion of the acquisition, the insider now owns 482,592 shares of the company's stock, valued at approximately $3,445,706.88. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 51,081 shares of company stock worth $360,210 over the last quarter. Corporate insiders own 19.07% of the company's stock.

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Institutional Investors Weigh In On The New Ireland Fund

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE increased its holdings in The New Ireland Fund by 40.2% during the 1st quarter. Bank of America Corp DE now owns 4,861 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 1,394 shares in the last quarter. Captrust Financial Advisors bought a new stake in shares of The New Ireland Fund in the 2nd quarter valued at $65,000. Wolverine Asset Management LLC acquired a new stake in shares of The New Ireland Fund during the third quarter worth about $63,000. Cetera Investment Advisers lifted its stake in The New Ireland Fund by 18.1% in the first quarter. Cetera Investment Advisers now owns 13,047 shares of the financial services provider's stock valued at $121,000 after buying an additional 2,000 shares in the last quarter. Finally, Meridian Investment Counsel Inc. lifted its position in The New Ireland Fund by 26.7% in the 2nd quarter. Meridian Investment Counsel Inc. now owns 19,268 shares of the financial services provider's stock valued at $153,000 after acquiring an additional 4,065 shares in the last quarter. Institutional investors own 40.12% of the company's stock.

The New Ireland Fund Price Performance

The New Ireland Fund stock opened at $10.18 on Thursday. The company's fifty day moving average price is $9.46 and its two-hundred day moving average price is $8.17. The New Ireland Fund has a one year low of $6.45 and a one year high of $11.46.

The New Ireland Fund Cuts Dividend

The company also recently announced a — dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 23rd were given a dividend of $0.2003 per share. The ex-dividend date was Thursday, December 22nd.

About The New Ireland Fund

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The New Ireland Fund, Inc is a closed-end investment company. The Fund objective is to achieve long-term capital appreciation through investment in equity securities of Irish companies. The company was founded on December 14, 1989 and is headquartered in Boston, MA.