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

The GDL Fund (NYSE:GDL)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.08 and traded as high as $8.23. The GDL Fund shares last traded at $8.21, with a volume of 9,694 shares trading hands.

The GDL Fund Price Performance

The firm has a 50-day simple moving average of $8.09 and a two-hundred day simple moving average of $8.08.

The GDL Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 5.85%. The ex-dividend date of this dividend was Friday, December 13th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Landscape Capital Management L.L.C. increased its position in The GDL Fund by 26.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 13,410 shares of the investment management company’s stock worth $109,000 after purchasing an additional 2,820 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in The GDL Fund in the 2nd quarter worth about $176,000. Park Avenue Securities LLC increased its position in 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 worth $723,000 after purchasing an additional 6,736 shares during the last quarter. NewEdge Advisors LLC increased its position in The GDL Fund by 3.9% in the 2nd 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 last quarter. Finally, Cornerstone Advisors LLC increased its position in The GDL Fund by 6.7% in the 3rd 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 last quarter.

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.