Gyrodyne (NASDAQ:GYRO) Stock Price Passes Below Two Hundred Day Moving Average – Time to Sell?

Gyrodyne , LLC (NASDAQ:GYRO)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.95 and traded as low as $7.62. Gyrodyne shares last traded at $6.8890, with a volume of 500 shares changing hands.

Gyrodyne Trading Down 9.6%

The firm has a 50-day moving average price of $8.19 and a 200 day moving average price of $8.95.

Institutional Investors Weigh In On Gyrodyne

Institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new stake in Gyrodyne during the 3rd quarter valued at about $77,000. Susquehanna International Group LLP purchased a new stake in Gyrodyne during the 3rd quarter valued at about $142,000. Teton Advisors LLC purchased a new stake in Gyrodyne during the 3rd quarter valued at about $177,000. Finally, Bulldog Investors LLP purchased a new stake in Gyrodyne during the 3rd quarter valued at about $601,000. 71.36% of the stock is currently owned by hedge funds and other institutional investors.

About Gyrodyne

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.