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

The GDL Fund (NYSE:GDL) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.32 and traded as high as $8.51. The GDL Fund shares last traded at $8.51, with a volume of 4,199 shares.

The GDL Fund Stock Up 0.4%

The stock has a fifty day moving average of $8.50 and a 200 day moving average of $8.32.

The GDL Fund Announces Dividend

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

Institutional Trading of The GDL Fund

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

About The GDL Fund

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.