Gyrodyne, LLC (NASDAQ:GYRO) Sees Large Drop in Short Interest

Gyrodyne, LLC (NASDAQ:GYRO) was the target of a large decline in short interest in the month of October. As of October 15th, there was short interest totalling 5,100 shares, a decline of 12.1% from the September 30th total of 5,800 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average trading volume of 2,200 shares, the days-to-cover ratio is currently 2.3 days.

Insider Activity

In related news, major shareholder Towerview Llc sold 6,654 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $11.42, for a total transaction of $75,988.68. Following the completion of the sale, the insider now owns 341,346 shares in the company, valued at $3,898,171.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.00% of the company’s stock.

Institutional Investors Weigh In On Gyrodyne

Several hedge funds have recently modified their holdings of GYRO. Towerview LLC increased its stake in Gyrodyne by 1.4% in the 2nd quarter. Towerview LLC now owns 347,000 shares of the real estate investment trust’s stock valued at $2,724,000 after buying an additional 4,704 shares during the period. Teton Advisors Inc. raised its holdings in Gyrodyne by 40.0% during the first quarter. Teton Advisors Inc. now owns 22,316 shares of the real estate investment trust’s stock worth $185,000 after purchasing an additional 6,376 shares in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Gyrodyne in the first quarter valued at about $120,000. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in Gyrodyne by 56.4% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 173,084 shares of the real estate investment trust’s stock valued at $1,437,000 after purchasing an additional 62,393 shares during the period. Finally, Gabelli Funds LLC boosted its holdings in Gyrodyne by 47.5% in the 1st quarter. Gabelli Funds LLC now owns 219,825 shares of the real estate investment trust’s stock valued at $1,825,000 after purchasing an additional 70,788 shares in the last quarter. 71.36% of the stock is owned by institutional investors and hedge funds.

Gyrodyne Stock Performance

Gyrodyne stock remained flat at $10.30 during mid-day trading on Thursday. The company’s stock had a trading volume of 98 shares, compared to its average volume of 2,938. The stock has a fifty day moving average price of $8.51 and a 200-day moving average price of $8.15. Gyrodyne has a 52 week low of $7.65 and a 52 week high of $11.96.

About Gyrodyne

Gyrodyne, LLC owns and manages a diversified portfolio of real estate properties comprising office, industrial and service-oriented properties in the New York metropolitan area. Gyrodyne owns a 63 acre site approximately 50 miles east of New York City on the north shore of Long Island, which includes industrial and office buildings and undeveloped property which is the subject of plans to seek value-enhancing entitlements.