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

The GDL Fund (NYSE:GDL)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.21 and traded as high as $8.37. The GDL Fund shares last traded at $8.31, with a volume of 11,606 shares.

The GDL Fund Stock Down 0.1%

The stock has a 50 day moving average price of $8.29 and a two-hundred day moving average price of $8.21.

The GDL Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, June 13th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.48 annualized dividend and a yield of 5.78%.

Institutional Trading of The GDL Fund

Institutional investors have recently bought and sold shares of the business. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in The GDL Fund during the fourth quarter worth approximately $14,810,000. Gamco Investors INC. ET AL lifted its stake in The GDL Fund by 40.1% in 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 buying an additional 126,300 shares during the last quarter. Wells Fargo & Company MN lifted its stake in 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 valued at $475,000 after buying an additional 29,423 shares during the last quarter. Virtu Financial LLC purchased a new stake in The GDL Fund in the first quarter valued at approximately $90,000. Finally, Envestnet Asset Management Inc. lifted its stake in The GDL Fund by 3.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 97,327 shares of the investment management company’s stock valued at $781,000 after buying an additional 3,519 shares during the last quarter.

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.