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

Shares of The GDL Fund (NYSE:GDLGet Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.18 and traded as high as $8.34. The GDL Fund shares last traded at $8.24, with a volume of 26,279 shares trading hands.

The GDL Fund Trading Down 0.4%

The firm’s 50 day moving average is $8.17 and its two-hundred day moving average is $8.18.

The GDL Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 13th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.83%. The ex-dividend date is Friday, June 13th.

Hedge Funds Weigh In On The GDL Fund

Several large investors have recently bought and sold shares of the business. Independent Advisor Alliance acquired a new position in shares of The GDL Fund during the 4th quarter worth about $4,920,000. Wells Fargo & Company MN lifted its stake in The GDL Fund by 98.9% during the fourth quarter. Wells Fargo & Company MN now owns 59,166 shares of the investment management company’s stock worth $475,000 after purchasing an additional 29,423 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in The GDL Fund by 3.8% in the fourth 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. Gamco Investors INC. ET AL boosted its holdings in The GDL Fund by 40.1% in the fourth 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 in the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in The GDL Fund in the fourth quarter valued at approximately $14,810,000.

The GDL Fund Company Profile

(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.

Further Reading

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