Gyrodyne (NASDAQ:GYRO) Share Price Passes Below 200-Day Moving Average – What’s Next?

Shares of Gyrodyne, LLC (NASDAQ:GYRO) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.07 and traded as low as $8.34. Gyrodyne shares last traded at $8.55, with a volume of 2,440 shares trading hands.

Gyrodyne Stock Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 1.78 and a quick ratio of 1.78. The firm’s 50-day simple moving average is $8.94 and its 200 day simple moving average is $9.06.

Institutional Investors Weigh In On Gyrodyne

An institutional investor recently raised its position in Gyrodyne stock. Round Hill Asset Management raised its position in shares of Gyrodyne, LLC (NASDAQ:GYRO) by 17.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,715 shares of the real estate investment trust’s stock after buying an additional 2,924 shares during the quarter. Round Hill Asset Management owned 0.90% of Gyrodyne worth $153,000 at the end of the most recent quarter. 71.36% of the stock is currently owned by hedge funds and other institutional investors.

About Gyrodyne

Gyrodyne, LLC owns and manages a diversified portfolio of real estate properties comprising office, industrial and service-oriented properties in the New York metropolitan area. Gyrodyne owns a 63 acre site approximately 50 miles east of New York City on the north shore of Long Island, which includes industrial and office buildings and undeveloped property which is the subject of plans to seek value-enhancing entitlements.