The GDL Fund (NYSE:GDL) Shares Cross Above 200-Day Moving Average – Here’s What Happened

The GDL Fund (NYSE:GDL) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $7.96 and traded as high as $8.14. The GDL Fund shares last traded at $8.12, with a volume of 9,125 shares trading hands.

The GDL Fund Stock Up 0.4 %

The firm has a 50 day moving average of $8.09 and a 200-day moving average of $7.96.

The GDL Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.89%. The ex-dividend date of this dividend was Monday, September 16th.

Institutional Trading of The GDL Fund

Several institutional investors and hedge funds have recently made changes to their positions in GDL. Wolverine Asset Management LLC increased its position in The GDL Fund by 45.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 5,233 shares of the investment management company’s stock valued at $41,000 after purchasing an additional 1,638 shares during the period. Park Avenue Securities LLC raised its stake in The GDL Fund by 4.2% in the first quarter. Park Avenue Securities LLC now owns 88,958 shares of the investment management company’s stock worth $708,000 after buying an additional 3,581 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in The GDL Fund by 3.9% during the second 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 period. B. Riley Wealth Advisors Inc. boosted its position in The GDL Fund by 25.3% during the 1st 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 in the last quarter. Finally, Cornerstone Advisors LLC increased its holdings in shares of The GDL Fund by 9.3% in the 2nd quarter. Cornerstone Advisors LLC now owns 188,288 shares of the investment management company’s stock valued at $1,476,000 after acquiring an additional 16,075 shares during the period.

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.