The GDL Fund (NYSE:GDL) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of The GDL Fund (NYSE:GDL) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.06 and traded as high as $8.15. The GDL Fund shares last traded at $8.12, with a volume of 21,292 shares traded.

The GDL Fund Trading Down 0.2 %

The stock’s 50-day moving average is $8.08 and its 200 day moving average is $8.06.

The GDL Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend was Friday, December 13th.

Institutional Trading of The GDL Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. Kovitz Investment Group Partners LLC purchased a new position in The GDL Fund in the third quarter valued at about $6,243,000. Sanctuary Advisors LLC acquired a new stake in shares of The GDL Fund during the 2nd quarter valued at about $176,000. Cornerstone Advisors LLC lifted its holdings in shares of 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 during the last quarter. Park Avenue Securities LLC grew its stake in shares of The GDL Fund by 8.1% in the 4th quarter. Park Avenue Securities LLC now owns 90,208 shares of the investment management company’s stock valued at $723,000 after buying an additional 6,736 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in The GDL Fund by 3.9% in the second quarter. NewEdge Advisors LLC now owns 121,605 shares of the investment management company’s stock worth $953,000 after buying 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.