Short Interest in Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG) Expands By 131.1%
by Scott Moore · The Cerbat GemNeuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG – Get Free Report) saw a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 67,961 shares, an increase of 131.1% from the March 15th total of 29,410 shares. Based on an average daily volume of 188,383 shares, the short-interest ratio is presently 0.4 days.
Neuberger Berman Next Generation Connectivity Fund Stock Performance
Shares of NYSE:NBXG traded down $0.03 during midday trading on Friday, hitting $13.65. 88,843 shares of the stock were exchanged, compared to its average volume of 230,258. The business’s 50-day moving average price is $13.27 and its 200 day moving average price is $14.23. Neuberger Berman Next Generation Connectivity Fund has a 12 month low of $11.04 and a 12 month high of $15.65.
Neuberger Berman Next Generation Connectivity Fund Dividend Announcement
The company also recently declared a monthly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th will be issued a dividend of $0.12 per share. This represents a c) annualized dividend and a dividend yield of 10.5%. The ex-dividend date is Wednesday, April 15th.
Institutional Trading of Neuberger Berman Next Generation Connectivity Fund
Several hedge funds and other institutional investors have recently made changes to their positions in NBXG. Geneos Wealth Management Inc. bought a new stake in shares of Neuberger Berman Next Generation Connectivity Fund during the first quarter worth about $57,000. Invesco Ltd. bought a new stake in shares of Neuberger Berman Next Generation Connectivity Fund during the second quarter worth about $303,000. Raymond James Financial Inc. lifted its stake in shares of Neuberger Berman Next Generation Connectivity Fund by 2.0% in the second quarter. Raymond James Financial Inc. now owns 766,255 shares of the company’s stock worth $11,187,000 after acquiring an additional 14,953 shares during the period. Bank of America Corp DE lifted its stake in shares of Neuberger Berman Next Generation Connectivity Fund by 71.9% in the second quarter. Bank of America Corp DE now owns 946,968 shares of the company’s stock worth $13,826,000 after acquiring an additional 395,994 shares during the period. Finally, Captrust Financial Advisors acquired a new position in shares of Neuberger Berman Next Generation Connectivity Fund in the second quarter worth approximately $153,000.
About Neuberger Berman Next Generation Connectivity Fund
The Neuberger Berman Next Generation Connectivity Fund (NYSE:NBXG) is an actively managed, closed-end fund dedicated to investing in companies driving the evolution of global connectivity infrastructure. Launched in February 2024 by Neuberger Berman, NBXG seeks total return by building a diversified portfolio of equity and equity-related securities in firms involved in 5G networks, fiber-optic systems, satellite communications, data centers, cloud computing, and other emerging technologies that support faster and more reliable digital connections.
Under its investment strategy, NBXG allocates capital across hardware and software providers, telecommunications carriers, semiconductor manufacturers, and equipment suppliers that benefit from the rollout and expansion of next-generation networks.