The GDL Fund (NYSE:GDL) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

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 $8.17 and traded as high as $8.38. The GDL Fund shares last traded at $8.36, with a volume of 2,347 shares trading hands.

The GDL Fund Price Performance

The stock has a 50 day simple moving average of $8.14 and a two-hundred day simple moving average of $8.17.

The GDL Fund Announces Dividend

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 issued a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 5.75%. The ex-dividend date is Friday, June 13th.

Hedge Funds Weigh In On The GDL Fund

A number of institutional investors have recently added to or reduced their stakes in GDL. Virtu Financial LLC acquired a new stake in The GDL Fund in the first quarter valued at $90,000. Wells Fargo & Company MN raised its holdings in shares of 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 purchasing an additional 29,423 shares during the period. Envestnet Asset Management Inc. lifted its stake 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 valued at $781,000 after purchasing an additional 3,519 shares during the last quarter. NewEdge Advisors LLC grew its holdings in The GDL Fund by 1.5% during the first quarter. NewEdge Advisors LLC now owns 126,162 shares of the investment management company’s stock worth $1,039,000 after purchasing an additional 1,840 shares during the period. Finally, Gamco Investors INC. ET AL grew 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 worth $3,537,000 after purchasing an additional 126,300 shares during the period.

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.