The GDL Fund (NYSE:GDL) Short Interest Update

The GDL Fund (NYSE:GDL) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 3,400 shares, an increase of 47.8% from the August 31st total of 2,300 shares. Based on an average trading volume of 10,400 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On The GDL Fund

Several large investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC acquired a new stake in The GDL Fund in the 2nd quarter worth $176,000. NewEdge Advisors LLC raised its holdings 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 valued at $953,000 after acquiring an additional 4,613 shares in the last quarter. Cornerstone Advisors LLC lifted its position 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 worth $1,476,000 after acquiring an additional 16,075 shares during the period. Wolverine Asset Management LLC grew its holdings 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 worth $41,000 after purchasing an additional 1,638 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew 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 purchasing an additional 12,469 shares in the last quarter.

The GDL Fund Price Performance

NYSE:GDL traded up $0.07 during mid-day trading on Friday, hitting $8.20. 8,445 shares of the company’s stock traded hands, compared to its average volume of 10,231. The firm has a 50 day moving average of $8.04 and a two-hundred day moving average of $7.93. The GDL Fund has a 12 month low of $7.65 and a 12 month high of $8.20.

The GDL Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors 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 yield of 5.85%. The ex-dividend date was Monday, September 16th.

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.