The GDL Fund (NYSE:GDL) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

The GDL Fund (NYSE:GDL) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.12 and traded as high as $8.35. The GDL Fund shares last traded at $8.36, with a volume of 11,400 shares trading hands.

The GDL Fund Stock Performance

The stock has a 50 day moving average price of $8.16 and a 200-day moving average price of $8.12.

The GDL Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 5.75%.

Institutional Trading of The GDL Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Landscape Capital Management L.L.C. increased its stake in shares of The GDL Fund by 26.6% in the third quarter. Landscape Capital Management L.L.C. now owns 13,410 shares of the investment management company’s stock worth $109,000 after buying an additional 2,820 shares during the period. Wells Fargo & Company MN grew its holdings in The GDL Fund by 98.9% in the 4th quarter. Wells Fargo & Company MN now owns 59,166 shares of the investment management company’s stock worth $475,000 after acquiring an additional 29,423 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of The GDL Fund by 8.1% in the fourth quarter. Park Avenue Securities LLC now owns 90,208 shares of the investment management company’s stock valued at $723,000 after acquiring an additional 6,736 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of The GDL Fund by 3.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 97,327 shares of the investment management company’s stock valued at $781,000 after acquiring an additional 3,519 shares during the last quarter. Finally, Cornerstone Advisors LLC boosted its holdings in shares of 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 worth $1,638,000 after purchasing an additional 12,699 shares during the period.

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.