The GDL Fund (NYSE:GDL) Share Price Crosses Above 200-Day Moving Average – Here’s Why

The GDL Fund (NYSE:GDL) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.08 and traded as high as $8.23. The GDL Fund shares last traded at $8.21, with a volume of 9,694 shares traded.

The GDL Fund Stock Performance

The company’s 50 day moving average price is $8.09 and its two-hundred day moving average price is $8.09.

The GDL Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were given a dividend of $0.12 per share. The ex-dividend date was Friday, December 13th. This represents a $0.48 annualized dividend and a yield of 5.85%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GDL. Landscape Capital Management L.L.C. grew its stake in shares of The GDL Fund by 26.6% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 13,410 shares of the investment management company’s stock valued at $109,000 after acquiring an additional 2,820 shares during the period. Sanctuary Advisors LLC purchased a new stake in shares of The GDL Fund in the second quarter worth $176,000. Park Avenue Securities LLC increased its stake in shares of 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 purchasing an additional 6,736 shares in the last quarter. NewEdge Advisors LLC raised its position 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 purchasing an additional 4,613 shares during the period. Finally, Cornerstone Advisors LLC lifted its stake in shares of The GDL Fund by 6.7% during 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 in the last quarter.

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.