Somewhat Favorable Media Coverage Somewhat Unlikely to Affect GDL Fund (GDL) Stock Price
News headlines about GDL Fund (NYSE:GDL) have been trending somewhat positive on Wednesday, Accern Sentiment Analysis reports. The research firm ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. GDL Fund earned a media sentiment score of 0.12 on Accern’s scale. Accern also gave media headlines about the investment management company an impact score of 46.4672947257083 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Shares of GDL Fund (NYSE GDL) traded down 0.11% during trading on Wednesday, reaching $10.17. The company had a trading volume of 20,376 shares. The company’s 50 day moving average is $10.25 and its 200-day moving average is $10.06. GDL Fund has a 1-year low of $9.55 and a 1-year high of $10.38.
In other GDL Fund news, insider Mario J. Gabelli purchased 4,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $10.30 per share, with a total value of $41,200.00. Following the completion of the acquisition, the insider now owns 197,059 shares in the company, valued at $2,029,707.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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GDL Fund Company Profile
The GDL Fund (the Fund) is a diversified closed-end management investment fund. The Fund’s primary investment objective is to achieve absolute returns in various market conditions without excessive risk of capital. The Fund will seek to achieve its objective by investing primarily in merger arbitrage transactions and, to a lesser extent, in corporate reorganizations involving stubs, spin-offs, and liquidations.
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