The GDL Fund (NYSE:GDL) Share Price Crosses Above 200 Day Moving Average of $7.98

Shares of The GDL Fund (NYSE:GDL – Get Rating) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.98 and traded as high as $8.02. The GDL Fund shares last traded at $8.02, with a volume of 3,951 shares trading hands.

The GDL Fund Stock Performance

The business has a 50-day moving average of $8.01 and a two-hundred day moving average of $7.98.

The GDL Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 24th. Investors of record on Friday, March 17th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date of this dividend is Thursday, March 16th.

Institutional Investors Weigh In On The GDL Fund

A number of institutional investors have recently added to or reduced their stakes in GDL. Wolverine Asset Management LLC acquired a new stake in The GDL Fund in the fourth quarter worth about $37,000. Zazove Associates LLC boosted its holdings in The GDL Fund by 57.6% in the fourth quarter. Zazove Associates LLC now owns 320,357 shares of the investment management company’s stock worth $2,512,000 after acquiring an additional 117,039 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in The GDL Fund by 0.8% in the third quarter. Gamco Investors INC. ET AL now owns 415,176 shares of the investment management company’s stock worth $3,288,000 after acquiring an additional 3,408 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. acquired a new stake in The GDL Fund in the third quarter worth about $41,000. Finally, Cornerstone Advisors LLC boosted its holdings in The GDL Fund by 10.4% in the third quarter. Cornerstone Advisors LLC now owns 194,555 shares of the investment management company’s stock worth $1,541,000 after acquiring an additional 18,375 shares in the last quarter.

The GDL Fund Company Profile

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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.