Japan Smaller Capitalization Fund, Inc. (NYSE:JOF) Sees Significant Growth in Short Interest

Japan Smaller Capitalization Fund, Inc. (NYSE:JOF) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 34,300 shares, a growth of 91.6% from the February 13th total of 17,900 shares. Based on an average daily trading volume, of 62,500 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.1% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of JOF. Saba Capital Management L.P. lifted its stake in shares of Japan Smaller Capitalization Fund by 222.0% in the 4th quarter. Saba Capital Management L.P. now owns 1,034,195 shares of the company’s stock valued at $7,932,000 after purchasing an additional 713,033 shares during the period. Quantedge Capital Pte Ltd lifted its stake in shares of Japan Smaller Capitalization Fund by 137.5% in the 4th quarter. Quantedge Capital Pte Ltd now owns 88,350 shares of the company’s stock valued at $678,000 after purchasing an additional 51,150 shares during the period. Ionic Capital Management LLC acquired a new position in shares of Japan Smaller Capitalization Fund in the 4th quarter valued at about $435,000. Bank of America Corp DE lifted its stake in shares of Japan Smaller Capitalization Fund by 144.7% in the 4th quarter. Bank of America Corp DE now owns 5,138 shares of the company’s stock valued at $39,000 after purchasing an additional 3,038 shares during the period. Finally, Raffles Associates LP lifted its stake in shares of Japan Smaller Capitalization Fund by 10.8% in the 4th quarter. Raffles Associates LP now owns 248,168 shares of the company’s stock valued at $1,903,000 after purchasing an additional 24,143 shares during the period.

Japan Smaller Capitalization Fund Stock Up 1.4 %

JOF traded up $0.12 during midday trading on Friday, hitting $8.38. 36,477 shares of the company were exchanged, compared to its average volume of 60,071. Japan Smaller Capitalization Fund has a 1-year low of $6.89 and a 1-year high of $8.44. The firm’s 50 day moving average price is $7.85 and its 200-day moving average price is $7.84.

Japan Smaller Capitalization Fund Company Profile

Japan Smaller Capitalization Fund, Inc is a closed-ended equity mutual fund launched by Nomura Asset Management U.SA Inc It is managed by Nomura Asset Management Co, Ltd. The fund invests in the public equity markets of Japan. It invests in stocks traded on the Tokyo, Osaka and Nagoya Stock Exchanges, JASDAQ, Mothers, Hercules, Centrex, and other indices.