The GDL Fund (NYSE:GDL) Shares Cross Above 200 Day Moving Average of $7.92

The GDL Fund (NYSE:GDL) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.92 and traded as high as $8.09. The GDL Fund shares last traded at $8.03, with a volume of 3,730 shares.

The GDL Fund Trading Down 0.5 %

The firm’s fifty day simple moving average is $8.02 and its two-hundred day simple moving average is $7.92.

The GDL Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 16th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.98%. The ex-dividend date of this dividend is Monday, September 16th.

Institutional Investors Weigh In On The GDL Fund

A number of institutional investors have recently bought and sold shares of GDL. Wolverine Asset Management LLC boosted its stake in shares of The GDL Fund by 45.6% in the second quarter. Wolverine Asset Management LLC now owns 5,233 shares of the investment management company’s stock worth $41,000 after acquiring an additional 1,638 shares during the period. Sanctuary Advisors LLC bought a new position in The GDL Fund in the 2nd quarter worth approximately $176,000. B. Riley Wealth Advisors Inc. grew its holdings in The GDL Fund by 25.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 61,796 shares of the investment management company’s stock valued at $479,000 after buying an additional 12,469 shares in the last quarter. Park Avenue Securities LLC grew its holdings in The GDL Fund by 4.2% during the 1st quarter. Park Avenue Securities LLC now owns 88,958 shares of the investment management company’s stock valued at $708,000 after buying an additional 3,581 shares in the last quarter. Finally, NewEdge Advisors LLC raised its position in shares of 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 buying an additional 4,613 shares during 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.