The GDL Fund (NYSE:GDL) Stock Passes Above 200 Day Moving Average of $7.92

The GDL Fund (NYSE:GDL)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.92 and traded as high as $8.09. The GDL Fund shares last traded at $8.03, with a volume of 3,730 shares traded.

The GDL Fund Stock Performance

The business has a 50 day moving average of $8.02 and a 200 day moving average of $7.92.

The GDL Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 16th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, September 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.98%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new position in The GDL Fund during the second quarter valued at $176,000. NewEdge Advisors LLC raised 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 buying an additional 4,613 shares in the last quarter. Cornerstone Advisors LLC lifted 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 last quarter. Wolverine Asset Management LLC lifted its holdings in shares of The GDL Fund by 45.6% in 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, B. Riley Wealth Advisors Inc. grew its position in The GDL Fund by 25.3% in the first 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.

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.