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

The GDL Fund (NYSE:GDL)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $8.09 and traded as high as $8.22. The GDL Fund shares last traded at $8.22, with a volume of 7,214 shares trading hands.

The GDL Fund Trading Down 0.1 %

The company has a 50 day moving average price of $8.10 and a 200 day moving average price of $8.09.

The GDL Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 13th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.84%. The ex-dividend date of this dividend was Friday, December 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in GDL. Sanctuary Advisors LLC acquired a new stake in The GDL Fund in the second quarter valued at about $176,000. Cornerstone Advisors LLC lifted its holdings in shares of The GDL Fund by 6.7% in the 3rd 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. Landscape Capital Management L.L.C. boosted 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 valued at $109,000 after buying an additional 2,820 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in The GDL Fund during the third quarter worth $6,243,000. Finally, Park Avenue Securities LLC raised its position in 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 worth $723,000 after acquiring an additional 6,736 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.