The GDL Fund (NYSE:GDL) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

The GDL Fund (NYSE:GDL) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.99 and traded as high as $8.29. The GDL Fund shares last traded at $8.24, with a volume of 6,697 shares.

The GDL Fund Price Performance

The firm has a 50-day moving average price of $8.12 and a 200-day moving average price of $7.99.

The GDL Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.48 dividend on an annualized basis and a yield of 5.83%.

Institutional Investors Weigh In On The GDL Fund

Several large investors have recently bought and sold shares of the business. Wolverine Asset Management LLC lifted its holdings in The GDL Fund by 45.6% in the second 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 period. Sanctuary Advisors LLC bought a new position in shares of The GDL Fund in the second quarter worth approximately $176,000. B. Riley Wealth Advisors Inc. boosted its holdings in The GDL Fund by 25.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 61,796 shares of the investment management company’s stock worth $479,000 after buying an additional 12,469 shares during the period. NewEdge Advisors LLC grew its position in shares of 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 purchasing an additional 4,613 shares in the last quarter. Finally, Cornerstone Advisors LLC grew 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 valued at $1,476,000 after buying an additional 16,075 shares in 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.