Short Interest in The GDL Fund (NYSE:GDL) Grows By 366.7%

The GDL Fund (NYSE:GDL) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 4,200 shares, a growth of 366.7% from the June 30th total of 900 shares. Based on an average trading volume of 10,800 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of The GDL Fund

A number of hedge funds have recently bought and sold shares of the stock. Zazove Associates LLC boosted its holdings in shares of The GDL Fund by 6.5% in the 4th quarter. Zazove Associates LLC now owns 378,222 shares of the investment management company’s stock valued at $3,041,000 after buying an additional 23,071 shares in the last quarter. Cornerstone Advisors LLC lifted its position in The GDL Fund by 2.8% during the fourth quarter. Cornerstone Advisors LLC now owns 182,343 shares of the investment management company’s stock valued at $1,466,000 after acquiring an additional 5,018 shares during the last quarter. Park Avenue Securities LLC boosted its stake in The GDL Fund by 4.2% in the first quarter. Park Avenue Securities LLC now owns 88,958 shares of the investment management company’s stock valued at $708,000 after acquiring an additional 3,581 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its holdings in The GDL Fund by 25.3% in the first quarter. B. Riley Wealth Advisors Inc. now owns 61,796 shares of the investment management company’s stock worth $479,000 after purchasing an additional 12,469 shares during the last quarter.

The GDL Fund Trading Up 0.1 %

NYSE GDL traded up $0.01 on Friday, reaching $7.98. 3,742 shares of the stock traded hands, compared to its average volume of 10,907. The GDL Fund has a 12 month low of $7.65 and a 12 month high of $8.13. The company has a fifty day moving average price of $7.90 and a 200-day moving average price of $7.89.

The GDL Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 13th were paid a dividend of $0.12 per share. The ex-dividend date was Thursday, June 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.02%.

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.