Gyrodyne (NASDAQ:GYRO) Shares Cross Below 200 Day Moving Average – What’s Next?

Gyrodyne , LLC (NASDAQ:GYRO) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $9.08 and traded as low as $7.33. Gyrodyne shares last traded at $7.3930, with a volume of 3,344 shares changing hands.

Gyrodyne Price Performance

The company has a 50 day moving average price of $8.36 and a 200 day moving average price of $9.08.

Institutional Investors Weigh In On Gyrodyne

A number of hedge funds and other institutional investors have recently bought and sold shares of GYRO. Bulldog Investors LLP purchased a new position in shares of Gyrodyne during the 3rd quarter valued at $601,000. Teton Advisors LLC purchased a new position in Gyrodyne in the third quarter worth $177,000. Susquehanna International Group LLP purchased a new position in Gyrodyne in the third quarter worth $142,000. Finally, Advisory Services Network LLC purchased a new position in Gyrodyne in the third quarter worth $77,000. Institutional investors own 71.36% of the company’s stock.

Gyrodyne Company Profile

Gyrodyne Company of America, Inc is a New York–based real estate investment and development firm specializing in medical office buildings and professional facilities. Listed on the NASDAQ under the ticker GYRO, the company’s principal business activity is the ownership, leasing and management of commercial properties tailored to healthcare and life sciences tenants. By focusing on outpatient diagnostic and treatment centers, clinical laboratories and related professional suites, Gyrodyne generates steady rental income and seeks to provide purpose-built environments that meet the specific needs of medical practitioners and research organizations.

The company’s core property portfolio is anchored by an approximately 87-acre campus situated in Stony Brook, Long Island.