The GDL Fund (NYSE:GDL) Stock Crosses Above 200 Day Moving Average – Time to Sell?

The GDL Fund (NYSE:GDL) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.07 and traded as high as $8.20. The GDL Fund shares last traded at $8.18, with a volume of 12,110 shares changing hands.

The GDL Fund Trading Up 0.4 %

The stock’s fifty day simple moving average is $8.08 and its 200 day simple moving average is $8.07.

The GDL Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.48 annualized dividend and a dividend yield of 5.87%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its stake in shares of The GDL Fund by 3.9% during the 2nd quarter. NewEdge Advisors LLC now owns 121,605 shares of the investment management company’s stock valued at $953,000 after acquiring an additional 4,613 shares during the period. Sanctuary Advisors LLC bought a new position in shares of The GDL Fund in the second quarter worth approximately $176,000. Cornerstone Advisors LLC increased its stake 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 purchasing an additional 12,699 shares in the last quarter. Landscape Capital Management L.L.C. raised its position in shares of The GDL Fund by 26.6% during the 3rd 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 during the period. Finally, Kovitz Investment Group Partners LLC purchased a new position in shares of The GDL Fund during the 3rd quarter valued at $6,243,000.

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.