The GDL Fund (NYSE:GDL) Stock Price Passes Above 200-Day Moving Average of $7.92

The GDL Fund (NYSE:GDL) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.92 and traded as high as $8.09. The GDL Fund shares last traded at $8.07, with a volume of 6,272 shares.

The GDL Fund Stock Down 0.1 %

The business’s 50 day moving average is $8.00 and its two-hundred day moving average is $7.92.

The GDL Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 16th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.95%. The ex-dividend date is Monday, September 16th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC lifted its holdings in shares of 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 worth $41,000 after buying an additional 1,638 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in The GDL Fund in the 2nd 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 valued at $479,000 after purchasing an additional 12,469 shares during the period. Park Avenue Securities LLC grew its position in shares of The GDL Fund by 4.2% during the 1st quarter. Park Avenue Securities LLC now owns 88,958 shares of the investment management company’s stock valued at $708,000 after purchasing an additional 3,581 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of 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 purchasing an additional 4,613 shares during the period.

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.