The GDL Fund (NYSE:GDL) Short Interest Up 16.7% in July

The GDL Fund (NYSE:GDL) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 4,900 shares, an increase of 16.7% from the July 15th total of 4,200 shares. Based on an average daily volume of 11,400 shares, the short-interest ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Wolverine Asset Management LLC lifted its stake in The GDL Fund by 45.6% during the second quarter. Wolverine Asset Management LLC now owns 5,233 shares of the investment management company’s stock worth $41,000 after purchasing an additional 1,638 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of The GDL Fund by 4.2% during the 1st quarter. Park Avenue Securities LLC now owns 88,958 shares of the investment management company’s stock valued at $708,000 after buying an additional 3,581 shares in the last quarter. NewEdge Advisors LLC lifted its position in The GDL Fund by 3.9% in the 2nd quarter. NewEdge Advisors LLC now owns 121,605 shares of the investment management company’s stock worth $953,000 after buying an additional 4,613 shares during the last quarter. Cornerstone Advisors LLC boosted its stake in The GDL Fund by 2.8% in the fourth quarter. Cornerstone Advisors LLC now owns 182,343 shares of the investment management company’s stock worth $1,466,000 after buying an additional 5,018 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its position in The GDL Fund by 25.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 61,796 shares of the investment management company’s stock valued at $479,000 after acquiring an additional 12,469 shares during the last quarter.

The GDL Fund Price Performance

Shares of NYSE:GDL traded up $0.01 during trading on Friday, reaching $8.02. The company had a trading volume of 2,287 shares, compared to its average volume of 10,656. The company has a fifty day moving average of $7.92 and a two-hundred day moving average of $7.90. The GDL Fund has a 12 month low of $7.65 and a 12 month high of $8.13.

The GDL Fund Company Profile

The GDL Fund is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in public equity markets across the globe. It invests in stocks of companies operating across diversified sectors. The fund invests in securities of companies involved in publicly announced mergers, takeovers, tender offers, and leveraged buyouts.