The GDL Fund (NYSE:GDL) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

The GDL Fund (NYSE:GDL) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.97 and traded as high as $8.18. The GDL Fund shares last traded at $8.17, with a volume of 1,792 shares traded.

The GDL Fund Stock Performance

The stock has a 50 day simple moving average of $8.11 and a two-hundred day simple moving average of $7.97.

The GDL Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.88%. The ex-dividend date was Monday, September 16th.

Hedge Funds Weigh In On The GDL Fund

Several large investors have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. lifted its stake 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 worth $479,000 after acquiring an additional 12,469 shares in the last quarter. Wolverine Asset Management LLC increased its holdings 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 worth $41,000 after purchasing an additional 1,638 shares during the period. Cornerstone Advisors LLC increased its holdings in The GDL Fund by 9.3% during the 2nd quarter. Cornerstone Advisors LLC now owns 188,288 shares of the investment management company’s stock worth $1,476,000 after purchasing an additional 16,075 shares during the period. NewEdge Advisors LLC increased its holdings in 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 worth $953,000 after purchasing an additional 4,613 shares during the period. Finally, Sanctuary Advisors LLC purchased a new stake in The GDL Fund during the 2nd quarter worth about $176,000.

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.