The GDL Fund (NYSE:GDL) Short Interest Up 71.2% in February

The GDL Fund (NYSE:GDL) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 17,800 shares, a growth of 71.2% from the February 13th total of 10,400 shares. Based on an average daily volume of 18,400 shares, the days-to-cover ratio is currently 1.0 days.

The GDL Fund Trading Up 0.3 %

Shares of The GDL Fund stock traded up $0.03 on Friday, hitting $8.34. 21,973 shares of the company’s stock were exchanged, compared to its average volume of 11,614. The company has a 50-day simple moving average of $8.25 and a 200-day simple moving average of $8.15. The GDL Fund has a 1 year low of $7.76 and a 1 year high of $8.40.

The GDL Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be given a dividend of $0.12 per share. The ex-dividend date is Monday, March 17th. This represents a $0.48 annualized dividend and a dividend yield of 5.76%.

Institutional Trading of The GDL Fund

A number of institutional investors and hedge funds have recently bought and sold shares of GDL. Landscape Capital Management L.L.C. increased its holdings in shares of The GDL Fund by 26.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 13,410 shares of the investment management company’s stock worth $109,000 after buying an additional 2,820 shares during the last quarter. Wells Fargo & Company MN boosted its position in The GDL Fund by 98.9% in the 4th quarter. Wells Fargo & Company MN now owns 59,166 shares of the investment management company’s stock valued at $475,000 after buying an additional 29,423 shares during the period. Park Avenue Securities LLC boosted its position in The GDL Fund by 8.1% in the 4th quarter. Park Avenue Securities LLC now owns 90,208 shares of the investment management company’s stock valued at $723,000 after buying an additional 6,736 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of The GDL Fund by 3.8% in 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. Finally, Cornerstone Advisors LLC raised its holdings in shares of The GDL Fund by 6.7% in the 3rd quarter. Cornerstone Advisors LLC now owns 200,987 shares of the investment management company’s stock valued at $1,638,000 after purchasing an additional 12,699 shares in the last quarter.

About The GDL Fund

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.