Short Interest in The GDL Fund (NYSE:GDL) Expands By 15.8%

The GDL Fund (NYSE:GDL) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 4,400 shares, an increase of 15.8% from the November 15th total of 3,800 shares. Based on an average daily volume of 6,700 shares, the days-to-cover ratio is presently 0.7 days.

The GDL Fund Stock Down 0.1 %

Shares of GDL traded down $0.01 during trading hours on Monday, reaching $7.98. 36,797 shares of the company traded hands, compared to its average volume of 9,664. The GDL Fund has a 1-year low of $7.72 and a 1-year high of $8.29. The stock’s fifty day moving average is $8.12 and its 200 day moving average is $8.03.

The GDL Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 13th will be given a $0.12 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.02%.

Institutional Trading of The GDL Fund

Institutional investors have recently modified their holdings of the company. Wolverine Asset Management LLC lifted its position in The GDL Fund by 45.6% in the second quarter. Wolverine Asset Management LLC now owns 5,233 shares of the investment management company’s stock worth $41,000 after purchasing an additional 1,638 shares during the period. Landscape Capital Management L.L.C. raised its stake in shares of The GDL Fund by 26.6% in 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 buying an additional 2,820 shares in the last quarter. NewEdge Advisors LLC lifted its holdings 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 worth $953,000 after acquiring an additional 4,613 shares during the period. Cornerstone Advisors LLC boosted its position 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 acquiring an additional 12,699 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in The GDL Fund in the second quarter valued at about $176,000.

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.