The GDL Fund (NYSE:GDL) Short Interest Down 13.0% in January

The GDL Fund (NYSE:GDL) saw a large decrease in short interest in January. As of January 31st, there was short interest totalling 2,000 shares, a decrease of 13.0% from the January 15th total of 2,300 shares. Based on an average daily trading volume, of 13,100 shares, the days-to-cover ratio is currently 0.2 days.

The GDL Fund Price Performance

The GDL Fund stock traded up $0.02 during mid-day trading on Friday, reaching $8.33. 300,141 shares of the company’s stock were exchanged, compared to its average volume of 24,968. The GDL Fund has a twelve month low of $7.72 and a twelve month high of $8.35. The company has a fifty day moving average of $8.12 and a 200-day moving average of $8.11.

The GDL Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.76%. The ex-dividend date is Monday, March 17th.

Institutional Investors Weigh In On The GDL Fund

Large investors have recently modified their holdings of the company. Wells Fargo & Company MN increased its position in shares of The GDL Fund by 98.9% in the 4th quarter. Wells Fargo & Company MN now owns 59,166 shares of the investment management company’s stock valued at $475,000 after purchasing an additional 29,423 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of The GDL Fund by 3.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 97,327 shares of the investment management company’s stock valued at $781,000 after purchasing an additional 3,519 shares during the last quarter. Gamco Investors INC. ET AL increased its position in shares of The GDL Fund by 40.1% in the 4th 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 during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of The GDL Fund in the 4th quarter valued at approximately $14,810,000. Finally, Independent Advisor Alliance purchased a new stake in shares of The GDL Fund in the 4th quarter valued at approximately $4,920,000.

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.