Short Interest in The GDL Fund (NYSE:GDL) Grows By 420.0%

The GDL Fund (NYSE:GDL) was the target of a significant increase in short interest in February. As of February 15th, there was short interest totalling 10,400 shares, an increase of 420.0% from the January 31st total of 2,000 shares. Based on an average trading volume of 18,500 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On The GDL Fund

A number of large investors have recently added to or reduced their stakes in GDL. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in The GDL Fund during the 4th quarter worth $14,810,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of The GDL Fund in the 3rd quarter valued at about $6,243,000. Independent Advisor Alliance bought a new position in The GDL Fund in the 4th quarter valued at about $4,920,000. Gamco Investors INC. ET AL grew its position in The GDL Fund by 40.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 441,040 shares of the investment management company’s stock worth $3,537,000 after purchasing an additional 126,300 shares in the last quarter. Finally, Cornerstone Advisors LLC raised its position in The GDL Fund by 6.7% in the third quarter. Cornerstone Advisors LLC now owns 200,987 shares of the investment management company’s stock worth $1,638,000 after acquiring an additional 12,699 shares during the period.

The GDL Fund Stock Performance

Shares of The GDL Fund stock remained flat at $8.32 during midday trading on Thursday. 985 shares of the stock traded hands, compared to its average volume of 21,531. The GDL Fund has a twelve month low of $7.72 and a twelve month high of $8.38. The company’s fifty day moving average price is $8.17 and its 200 day moving average price is $8.12.

The GDL Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date is Monday, March 17th.

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.