The GDL Fund (NYSE:GDL) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of The GDL Fund (NYSE:GDL) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.16 and traded as high as $8.29. The GDL Fund shares last traded at $8.25, with a volume of 11,338 shares changing hands.

The GDL Fund Price Performance

The firm has a 50-day simple moving average of $8.27 and a 200-day simple moving average of $8.16.

The GDL Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a yield of 5.80%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GDL. Landscape Capital Management L.L.C. raised its holdings in 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 purchasing an additional 2,820 shares during the period. Wells Fargo & Company MN raised its stake in shares of The GDL Fund by 98.9% in the fourth quarter. Wells Fargo & Company MN now owns 59,166 shares of the investment management company’s stock worth $475,000 after buying an additional 29,423 shares during the period. Park Avenue Securities LLC grew its stake in shares of The GDL Fund by 8.1% during the 4th quarter. Park Avenue Securities LLC now owns 90,208 shares of the investment management company’s stock valued at $723,000 after acquiring an additional 6,736 shares during the period. Envestnet Asset Management Inc. increased its holdings in 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 worth $781,000 after acquiring an additional 3,519 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in The GDL Fund by 40.1% during 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.

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.