The GDL Fund (NYSE:GDL) Stock Passes Above 200-Day Moving Average – What’s Next?

The GDL Fund (NYSE:GDL) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.30 and traded as high as $8.56. The GDL Fund shares last traded at $8.55, with a volume of 11,381 shares traded.

The GDL Fund Stock Performance

The company has a 50-day moving average of $8.45 and a two-hundred day moving average of $8.30.

The GDL Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 16th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Tuesday, September 16th.

Hedge Funds Weigh In On The GDL Fund

A number of large investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of The GDL Fund in the second quarter valued at about $29,000. Virtu Financial LLC bought a new stake in shares of The GDL Fund in the 1st quarter worth approximately $90,000. Matisse Capital bought a new stake in The GDL Fund during the 2nd quarter valued at $141,000. Osaic Holdings Inc. raised its stake in The GDL Fund by 840.5% during the 2nd quarter. Osaic Holdings Inc. now owns 39,445 shares of the investment management company’s stock valued at $329,000 after acquiring an additional 35,251 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new stake in The GDL Fund during the 2nd quarter valued at $715,000.

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.