The GDL Fund (NYSE:GDL) Stock 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 Monday . The stock has a two hundred day moving average of $8.16 and traded as high as $8.29. The GDL Fund shares last traded at $8.25, with a volume of 11,338 shares.

The GDL Fund Price Performance

The firm has a 50-day simple moving average of $8.27 and a 200-day simple moving average of $8.16.

The GDL Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.82%. The ex-dividend date was Monday, March 17th.

Institutional Trading of The GDL Fund

Several institutional investors and hedge funds have recently modified their holdings of the company. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in The GDL Fund in the fourth quarter worth $14,810,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of The GDL Fund in the 3rd quarter worth $6,243,000. Independent Advisor Alliance purchased a new position in The GDL Fund during the fourth quarter valued at approximately $4,920,000. Gamco Investors INC. ET AL boosted its position in The GDL Fund by 40.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 441,040 shares of the investment management company’s stock valued at $3,537,000 after purchasing an additional 126,300 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in The GDL Fund by 98.9% during the fourth quarter. Wells Fargo & Company MN now owns 59,166 shares of the investment management company’s stock valued at $475,000 after acquiring an additional 29,423 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.