GDL Fund (NYSE:GDL) Stock Passes Above Two Hundred Day Moving Average of $9.32

GDL Fund (NYSE:GDL)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $9.32 and traded as high as $9.16. GDL Fund shares last traded at $9.16, with a volume of 200 shares.

The company’s 50 day moving average price is $9.25 and its 200 day moving average price is $9.32.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 16th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.40 annualized dividend and a dividend yield of 4.38%.

In related news, Director James P. Conn sold 2,996 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $9.20, for a total transaction of $27,563.20. Also, Director James P. Conn sold 11,004 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $9.26, for a total transaction of $101,897.04. Following the transaction, the director now owns 3,996 shares of the company’s stock, valued at $37,002.96. The disclosure for this sale can be found here.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Griffin Asset Management Inc. acquired a new position in GDL Fund during the second quarter valued at $55,000. FNY Investment Advisers LLC acquired a new position in GDL Fund during the second quarter valued at $71,000. Rivernorth Capital Management LLC acquired a new position in GDL Fund during the second quarter valued at $96,000. Susquehanna International Group LLP lifted its position in GDL Fund by 100.6% during the second quarter. Susquehanna International Group LLP now owns 22,379 shares of the investment management company’s stock valued at $207,000 after purchasing an additional 11,221 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in GDL Fund by 13.9% during the second quarter. Envestnet Asset Management Inc. now owns 30,683 shares of the investment management company’s stock valued at $284,000 after purchasing an additional 3,737 shares during the period.

GDL Fund Company Profile (NYSE:GDL)

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.

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