The GDL Fund (NYSE:GDL) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

The GDL Fund (NYSE:GDL)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.08 and traded as high as $8.23. The GDL Fund shares last traded at $8.21, with a volume of 9,694 shares traded.

The GDL Fund Trading Up 0.7 %

The business has a 50-day moving average price of $8.09 and a 200-day moving average price of $8.08.

The GDL Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.85%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Park Avenue Securities LLC raised its position in 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 during the period. Kovitz Investment Group Partners LLC acquired a new position in The GDL Fund during the third quarter valued at $6,243,000. Landscape Capital Management L.L.C. raised its position in The GDL Fund by 26.6% during 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 buying an additional 2,820 shares during the period. Cornerstone Advisors LLC raised its position in The GDL Fund by 6.7% during the third quarter. Cornerstone Advisors LLC now owns 200,987 shares of the investment management company’s stock valued at $1,638,000 after buying an additional 12,699 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in The GDL Fund during the second quarter valued at $176,000.

The GDL Fund Company Profile

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.