The GDL Fund (NYSE:GDL) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

The GDL Fund (NYSE:GDL)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $7.96 and traded as high as $8.14. The GDL Fund shares last traded at $8.12, with a volume of 9,125 shares trading hands.

The GDL Fund Stock Performance

The firm’s 50 day moving average is $8.09 and its 200 day moving average is $7.96.

The GDL Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were paid a $0.12 dividend. The ex-dividend date was Monday, September 16th. This represents a $0.48 dividend on an annualized basis and a yield of 5.91%.

Hedge Funds Weigh In On The GDL Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of GDL. Wolverine Asset Management LLC grew its stake in The GDL Fund by 45.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 5,233 shares of the investment management company’s stock worth $41,000 after buying an additional 1,638 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in The GDL Fund in the 2nd quarter worth approximately $176,000. B. Riley Wealth Advisors Inc. grew its stake in The GDL Fund by 25.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 61,796 shares of the investment management company’s stock worth $479,000 after buying an additional 12,469 shares in the last quarter. Park Avenue Securities LLC grew its stake in The GDL Fund by 4.2% in the 1st quarter. Park Avenue Securities LLC now owns 88,958 shares of the investment management company’s stock worth $708,000 after buying an additional 3,581 shares in the last quarter. Finally, NewEdge Advisors LLC grew its stake in The GDL Fund by 3.9% in the 2nd 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 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.