The GDL Fund (NYSE:GDL) Stock Price Crosses Above 200 Day Moving Average of $7.90

Shares of The GDL Fund (NYSE:GDL) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.90 and traded as high as $8.08. The GDL Fund shares last traded at $8.08, with a volume of 4,576 shares traded.

The GDL Fund Price Performance

The firm’s fifty day moving average price is $7.97 and its 200 day moving average price is $7.90.

The GDL Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 16th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 5.94%. The ex-dividend date is Monday, September 16th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GDL. Cornerstone Advisors LLC lifted its position in shares of 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. Park Avenue Securities LLC increased its stake in The GDL Fund by 4.2% in 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 last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of 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 worth $479,000 after acquiring an additional 12,469 shares in the last quarter. Wolverine Asset Management LLC boosted its position in shares of 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 acquiring an additional 1,638 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of The GDL Fund by 3.9% during the 2nd quarter. NewEdge Advisors LLC now owns 121,605 shares of the investment management company’s stock valued at $953,000 after acquiring an additional 4,613 shares during the last quarter.

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.