The GDL Fund (NYSE:GDL) Sees Large Increase in Short Interest

The GDL Fund (NYSE:GDL) was the recipient of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 17,800 shares, a growth of 71.2% from the February 13th total of 10,400 shares. Based on an average daily volume of 18,400 shares, the days-to-cover ratio is presently 1.0 days.

The GDL Fund Trading Up 0.3 %

The GDL Fund stock opened at $8.34 on Friday. The stock has a fifty day moving average price of $8.24 and a 200 day moving average price of $8.15. The GDL Fund has a 52 week low of $7.72 and a 52 week high of $8.40.

The GDL Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be paid a $0.12 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 5.76%.

Institutional Investors Weigh In On The GDL Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Landscape Capital Management L.L.C. boosted 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 worth $109,000 after buying an additional 2,820 shares during the period. Wells Fargo & Company MN boosted its position in shares of The GDL Fund by 98.9% in the fourth quarter. Wells Fargo & Company MN now owns 59,166 shares of the investment management company’s stock worth $475,000 after buying an additional 29,423 shares during the period. Park Avenue Securities LLC boosted its position in shares of The GDL Fund by 8.1% in the fourth quarter. Park Avenue Securities LLC now owns 90,208 shares of the investment management company’s stock worth $723,000 after buying an additional 6,736 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of The GDL Fund by 3.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 97,327 shares of the investment management company’s stock worth $781,000 after buying an additional 3,519 shares during the period. Finally, Cornerstone Advisors LLC boosted its position in shares of The GDL Fund by 6.7% in the third quarter. Cornerstone Advisors LLC now owns 200,987 shares of the investment management company’s stock worth $1,638,000 after buying an additional 12,699 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.