The GDL Fund (NYSE:GDL) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

The GDL Fund (NYSE:GDLGet Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.16 and traded as high as $8.40. The GDL Fund shares last traded at $8.38, with a volume of 9,886 shares.

The GDL Fund Trading Up 0.1%

The firm has a 50-day simple moving average of $8.13 and a 200 day simple moving average of $8.16.

The GDL Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 13th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, June 13th. This represents a $0.48 dividend on an annualized basis and a yield of 5.73%.

Institutional Investors Weigh In On The GDL Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in shares of The GDL Fund during the fourth quarter valued at $14,810,000. Independent Advisor Alliance bought a new position in The GDL Fund in the 4th quarter worth about $4,920,000. Gamco Investors INC. ET AL grew its position in The GDL Fund by 40.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 441,040 shares of the investment management company’s stock valued at $3,537,000 after purchasing an additional 126,300 shares during the last quarter. NewEdge Advisors LLC increased its stake in The GDL Fund by 1.5% during the 1st quarter. NewEdge Advisors LLC now owns 126,162 shares of the investment management company’s stock valued at $1,039,000 after purchasing an additional 1,840 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in The GDL Fund by 3.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 97,327 shares of the investment management company’s stock valued at $781,000 after purchasing an additional 3,519 shares in the last quarter.

About The GDL Fund

(Get Free Report)

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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