Gyrodyne (NASDAQ:GYRO) Shares Pass Below Fifty Day Moving Average – What’s Next?

Gyrodyne , LLC (NASDAQ:GYRO)’s share price passed 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 Performance

The firm’s fifty day moving average price is $6.77 and its 200-day moving average price is $7.93.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bulldog Investors LLP acquired a new position in Gyrodyne in the third quarter valued at approximately $601,000. Susquehanna International Group LLP acquired a new position in shares of Gyrodyne during the third quarter valued at about $142,000. Finally, Advisory Services Network LLC acquired a new position in Gyrodyne during the 3rd quarter valued at about $77,000. 71.36% of the stock is owned by institutional investors and hedge funds.

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.