Gyrodyne (NASDAQ:GYRO) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Gyrodyne , LLC (NASDAQ:GYRO)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.64 and traded as low as $9.06. Gyrodyne shares last traded at $9.03, with a volume of 1,048 shares traded.

Gyrodyne Stock Performance

The stock has a 50 day moving average price of $9.32 and a two-hundred day moving average price of $9.64.

Institutional Investors Weigh In On Gyrodyne

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bulldog Investors LLP acquired a new stake in shares of Gyrodyne during the third quarter worth $601,000. Teton Advisors LLC bought a new position in Gyrodyne during the third quarter worth about $177,000. Susquehanna International Group LLP acquired a new stake in Gyrodyne in the 3rd quarter worth about $142,000. Finally, Advisory Services Network LLC bought a new stake in Gyrodyne in the 3rd quarter valued at about $77,000. Institutional investors and hedge funds own 71.36% of the company’s stock.

About Gyrodyne

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.