The GDL Fund (NYSE:GDL) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

The GDL Fund (NYSE:GDL) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.37 and traded as high as $8.51. The GDL Fund shares last traded at $8.4450, with a volume of 4,802 shares traded.

The GDL Fund Stock Performance

The firm’s 50-day simple moving average is $8.51 and its 200 day simple moving average is $8.38.

The GDL Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 16th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.6%. The ex-dividend date was Tuesday, September 16th.

Institutional Investors Weigh In On The GDL Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. grew its holdings in shares of The GDL Fund by 840.5% in the 2nd quarter. Osaic Holdings Inc. now owns 39,445 shares of the investment management company’s stock worth $329,000 after acquiring an additional 35,251 shares during the period. Raymond James Financial Inc. purchased a new stake in The GDL Fund during the second quarter worth $29,000. Matisse Capital acquired a new stake in The GDL Fund in the second quarter valued at $141,000. Park Avenue Securities LLC acquired a new stake in The GDL Fund in the second quarter valued at $715,000. Finally, NewEdge Advisors LLC increased its position in shares of The GDL Fund by 1.5% in the first quarter. NewEdge Advisors LLC now owns 126,162 shares of the investment management company’s stock valued at $1,039,000 after buying an additional 1,840 shares in the last quarter.

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.