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

The GDL Fund (NYSE:GDL) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.16 and traded as high as $8.29. The GDL Fund shares last traded at $8.25, with a volume of 11,338 shares trading hands.

The GDL Fund Stock Down 0.6 %

The business has a fifty day simple moving average of $8.27 and a 200-day simple moving average of $8.16.

The GDL Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were given a dividend of $0.12 per share. The ex-dividend date was Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a yield of 5.80%.

Hedge Funds Weigh In On The GDL Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in The GDL Fund in the 4th quarter worth about $14,810,000. Gamco Investors INC. ET AL grew its holdings in shares of The GDL Fund by 40.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 441,040 shares of the investment management company’s stock valued at $3,537,000 after buying an additional 126,300 shares during the last quarter. Envestnet Asset Management Inc. increased its position 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 in the last quarter. Wells Fargo & Company MN lifted its position 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 valued at $475,000 after acquiring an additional 29,423 shares in the last quarter. Finally, Independent Advisor Alliance purchased a new stake in The GDL Fund during the 4th quarter valued at $4,920,000.

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.