The GDL Fund (NYSE:GDL) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

The GDL Fund (NYSE:GDL)’s share price passed 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 changing hands.

The GDL Fund Trading Up 1.0 %

The firm has a 50-day moving average price of $8.09 and a two-hundred day moving average price of $8.05.

The GDL Fund Dividend Announcement

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

Institutional Trading of The GDL Fund

A number of institutional investors have recently made changes to their positions in GDL. Kovitz Investment Group Partners LLC bought a new position in The GDL Fund in the third quarter valued at $6,243,000. Sanctuary Advisors LLC acquired a new stake in shares of The GDL Fund in the second quarter valued at about $176,000. Cornerstone Advisors LLC raised its holdings in The GDL Fund by 9.3% during the second quarter. Cornerstone Advisors LLC now owns 188,288 shares of the investment management company’s stock worth $1,476,000 after acquiring an additional 16,075 shares in the last quarter. 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 valued at $953,000 after purchasing an additional 4,613 shares during the last quarter. Finally, Landscape Capital Management L.L.C. grew its stake in 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 in the last quarter.

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.