Gyrodyne (NASDAQ:GYRO) Stock Passes Below 50-Day Moving Average – Time to Sell?

Gyrodyne , LLC (NASDAQ:GYRO)’s stock price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $6.77 and traded as low as $6.23. Gyrodyne shares last traded at $6.1260, with a volume of 116 shares trading hands.

Gyrodyne Stock Down 0.9%

The firm’s 50 day moving average price is $6.72 and its 200-day moving average price is $7.89.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GYRO. Bulldog Investors LLP purchased a new stake in shares of Gyrodyne during the third quarter valued at $601,000. Susquehanna International Group LLP purchased a new stake in shares of Gyrodyne during the 3rd quarter valued at about $142,000. Finally, Advisory Services Network LLC bought a new stake in shares of Gyrodyne in the third quarter worth approximately $77,000. Hedge funds and other institutional investors own 71.36% of the company’s stock.

Gyrodyne Company Profile

Gyrodyne Company of America, Inc is a New York–based real estate investment and development firm specializing in medical office buildings and professional facilities. Listed on the NASDAQ under the ticker GYRO, the company’s principal business activity is the ownership, leasing and management of commercial properties tailored to healthcare and life sciences tenants. By focusing on outpatient diagnostic and treatment centers, clinical laboratories and related professional suites, Gyrodyne generates steady rental income and seeks to provide purpose-built environments that meet the specific needs of medical practitioners and research organizations.

The company’s core property portfolio is anchored by an approximately 87-acre campus situated in Stony Brook, Long Island.