The GDL Fund (NYSE:GDL) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of The GDL Fund (NYSE:GDL) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.09 and traded as high as $8.22. The GDL Fund shares last traded at $8.22, with a volume of 7,214 shares.

The GDL Fund Trading Down 0.1 %

The stock has a 50-day simple moving average of $8.10 and a 200 day simple moving average of $8.09.

The GDL Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.48 annualized dividend and a dividend yield of 5.84%.

Hedge Funds Weigh In On The GDL Fund

Several hedge funds have recently added to or reduced their stakes in the business. Landscape Capital Management L.L.C. lifted its holdings in shares of The GDL Fund by 26.6% in the third quarter. Landscape Capital Management L.L.C. now owns 13,410 shares of the investment management company’s stock valued at $109,000 after purchasing an additional 2,820 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of The GDL Fund during the 2nd quarter worth approximately $176,000. Park Avenue Securities LLC lifted its stake 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 in the last quarter. Cornerstone Advisors LLC grew its holdings in The GDL Fund by 6.7% during the 3rd quarter. Cornerstone Advisors LLC now owns 200,987 shares of the investment management company’s stock valued at $1,638,000 after buying an additional 12,699 shares during the last quarter. Finally, Independent Advisor Alliance purchased a new position in The GDL Fund during the fourth quarter worth $4,920,000.

The GDL Fund Company Profile

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.