The GDL Fund (NYSE:GDL) Share Price Passes Above 200 Day Moving Average – What’s Next?

The GDL Fund (NYSE:GDL)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.97 and traded as high as $8.18. The GDL Fund shares last traded at $8.17, with a volume of 1,792 shares traded.

The GDL Fund Stock Performance

The company’s 50 day simple moving average is $8.11 and its 200-day simple moving average is $7.98.

The GDL Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date was Monday, September 16th.

Institutional Trading of The GDL Fund

Hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new position in shares of The GDL Fund during the 2nd quarter worth $176,000. NewEdge Advisors LLC grew its stake in shares of The GDL Fund by 3.9% during the 2nd quarter. NewEdge Advisors LLC now owns 121,605 shares of the investment management company’s stock valued at $953,000 after acquiring an additional 4,613 shares during the period. Cornerstone Advisors LLC grew its stake in shares of The GDL Fund by 9.3% during the 2nd quarter. Cornerstone Advisors LLC now owns 188,288 shares of the investment management company’s stock valued at $1,476,000 after acquiring an additional 16,075 shares during the period. Wolverine Asset Management LLC increased its holdings 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 acquiring an additional 1,638 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its stake in The GDL Fund by 25.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 61,796 shares of the investment management company’s stock worth $479,000 after acquiring an additional 12,469 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.