The GDL Fund (NYSE:GDL) Short Interest Up 366.7% in July

The GDL Fund (NYSE:GDL) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totalling 4,200 shares, an increase of 366.7% from the June 30th total of 900 shares. Based on an average daily trading volume, of 10,800 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On The GDL Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. raised its position in The GDL Fund by 25.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 61,796 shares of the investment management company’s stock worth $479,000 after buying an additional 12,469 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of The GDL Fund by 4.2% during the first quarter. Park Avenue Securities LLC now owns 88,958 shares of the investment management company’s stock worth $708,000 after acquiring an additional 3,581 shares during the period. Cornerstone Advisors LLC raised its holdings in The GDL Fund by 2.8% during the fourth quarter. Cornerstone Advisors LLC now owns 182,343 shares of the investment management company’s stock worth $1,466,000 after purchasing an additional 5,018 shares in the last quarter. Finally, Zazove Associates LLC lifted its position in The GDL Fund by 6.5% in the fourth quarter. Zazove Associates LLC now owns 378,222 shares of the investment management company’s stock valued at $3,041,000 after purchasing an additional 23,071 shares during the period.

The GDL Fund Stock Up 0.1 %

GDL stock traded up $0.01 on Friday, hitting $7.98. The company’s stock had a trading volume of 3,742 shares, compared to its average volume of 10,907. The firm has a 50 day moving average of $7.90 and a two-hundred day moving average of $7.89. The GDL Fund has a 1 year low of $7.65 and a 1 year high of $8.13.

The GDL Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 13th were issued a $0.12 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.02%.

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.