Short Interest in The GDL Fund (NYSE:GDL) Rises By 132.4%

The GDL Fund (NYSE:GDL) saw a significant increase in short interest in September. As of September 30th, there was short interest totalling 7,900 shares, an increase of 132.4% from the September 15th total of 3,400 shares. Based on an average daily volume of 7,500 shares, the days-to-cover ratio is presently 1.1 days.

The GDL Fund Stock Performance

Shares of GDL stock remained flat at $8.12 during mid-day trading on Friday. The stock had a trading volume of 572 shares, compared to its average volume of 9,941. The GDL Fund has a one year low of $7.65 and a one year high of $8.20. The stock’s fifty day simple moving average is $8.07 and its 200-day simple moving average is $7.95.

The GDL Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 16th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date of this dividend was Monday, September 16th.

Institutional Investors Weigh In On The GDL Fund

Several large investors have recently modified their holdings of GDL. Sanctuary Advisors LLC purchased a new position in The GDL Fund during the 2nd quarter worth approximately $176,000. Cornerstone Advisors LLC grew its holdings in shares of The GDL Fund by 9.3% during the second quarter. Cornerstone Advisors LLC now owns 188,288 shares of the investment management company’s stock valued at $1,476,000 after buying an additional 16,075 shares in the last quarter. B. Riley Wealth Advisors Inc. raised 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 buying an additional 12,469 shares during the period. NewEdge Advisors LLC lifted its stake 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 acquiring an additional 4,613 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in 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 worth $708,000 after acquiring an additional 3,581 shares during the period.

About The GDL Fund

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.