The GDL Fund (NYSE:GDL) Shares Pass Above 200 Day Moving Average – Here’s What Happened

The GDL Fund (NYSE:GDL) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.05 and traded as high as $8.13. The GDL Fund shares last traded at $8.13, with a volume of 48,438 shares traded.

The GDL Fund Price Performance

The business’s 50 day simple moving average is $8.09 and its 200 day simple moving average is $8.05.

The GDL Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date was Friday, December 13th.

Institutional Trading of The GDL Fund

Several institutional investors and hedge funds have recently bought and sold shares of GDL. Kovitz Investment Group Partners LLC bought a new position in shares of The GDL Fund during the 3rd quarter worth approximately $6,243,000. Cornerstone Advisors LLC boosted its position in The GDL Fund by 6.7% during the third quarter. Cornerstone Advisors LLC now owns 200,987 shares of the investment management company’s stock worth $1,638,000 after purchasing an additional 12,699 shares during the period. NewEdge Advisors LLC boosted its position in 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 during the period. Sanctuary Advisors LLC acquired a new position in shares of The GDL Fund in the second quarter valued at $176,000. Finally, Landscape Capital Management L.L.C. raised its position in shares of The GDL Fund by 26.6% in the third quarter. Landscape Capital Management L.L.C. now owns 13,410 shares of the investment management company’s stock valued at $109,000 after purchasing an additional 2,820 shares during the period.

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.