The GDL Fund (NYSE:GDL) Stock Crosses Above Two Hundred Day Moving Average of $7.89

The GDL Fund (NYSE:GDL)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.89 and traded as high as $8.04. The GDL Fund shares last traded at $8.01, with a volume of 8,719 shares.

The GDL Fund Stock Performance

The firm’s 50 day moving average price is $7.90 and its two-hundred day moving average price is $7.89.

The GDL Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 13th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.48 dividend on an annualized basis and a yield of 5.99%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GDL. Zazove Associates LLC grew its stake in 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 during the last quarter. Cornerstone Advisors LLC boosted its holdings in The GDL Fund by 2.8% in the 4th quarter. Cornerstone Advisors LLC now owns 182,343 shares of the investment management company’s stock valued at $1,466,000 after purchasing an additional 5,018 shares during the period. Park Avenue Securities LLC boosted its holdings in The GDL Fund by 4.2% in the 1st quarter. Park Avenue Securities LLC now owns 88,958 shares of the investment management company’s stock valued at $708,000 after purchasing an additional 3,581 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in The GDL Fund by 25.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 61,796 shares of the investment management company’s stock valued at $479,000 after purchasing an additional 12,469 shares during the period. Finally, Wolverine Asset Management LLC boosted 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 valued at $41,000 after purchasing an additional 1,638 shares during the period.

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.