The GDL Fund (NYSE:GDL) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

The GDL Fund (NYSE:GDL)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.06 and traded as high as $8.15. The GDL Fund shares last traded at $8.12, with a volume of 21,292 shares trading hands.

The GDL Fund Price Performance

The stock has a 50-day moving average of $8.08 and a two-hundred day moving average of $8.06.

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 issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.91%. The ex-dividend date was Friday, December 13th.

Institutional Investors Weigh In On The GDL Fund

A number of large investors have recently made changes to their positions in the company. Kovitz Investment Group Partners LLC acquired a new position in The GDL Fund in the 3rd quarter worth approximately $6,243,000. Cornerstone Advisors LLC lifted its holdings 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 valued at $1,638,000 after purchasing an additional 12,699 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of The GDL Fund by 3.9% in the second quarter. NewEdge Advisors LLC now owns 121,605 shares of the investment management company’s stock worth $953,000 after buying an additional 4,613 shares during the period. Park Avenue Securities LLC grew its holdings in shares of The GDL Fund by 8.1% during the fourth quarter. Park Avenue Securities LLC now owns 90,208 shares of the investment management company’s stock valued at $723,000 after buying an additional 6,736 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in The GDL Fund during the second quarter valued at $176,000.

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.