Short Interest in The GDL Fund (NYSE:GDL) Drops By 13.0%

The GDL Fund (NYSE:GDL) was the recipient of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 2,000 shares, a decline of 13.0% from the January 15th total of 2,300 shares. Based on an average trading volume of 13,100 shares, the short-interest ratio is currently 0.2 days.

Institutional Trading of The GDL Fund

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN grew its stake in The GDL Fund by 98.9% in the 4th quarter. Wells Fargo & Company MN now owns 59,166 shares of the investment management company’s stock worth $475,000 after acquiring an additional 29,423 shares during the period. Envestnet Asset Management Inc. grew its stake in The GDL Fund by 3.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 97,327 shares of the investment management company’s stock worth $781,000 after acquiring an additional 3,519 shares during the period. Gamco Investors INC. ET AL grew its stake in shares of The GDL Fund by 40.1% during the 4th quarter. Gamco Investors INC. ET AL now owns 441,040 shares of the investment management company’s stock valued at $3,537,000 after buying an additional 126,300 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of The GDL Fund during the 4th quarter valued at $14,810,000. Finally, Independent Advisor Alliance purchased a new stake in shares of The GDL Fund during the 4th quarter valued at $4,920,000.

The GDL Fund Stock Down 0.4 %

GDL stock traded down $0.03 during midday trading on Tuesday, hitting $8.31. The stock had a trading volume of 12,950 shares, compared to its average volume of 24,579. The GDL Fund has a 12-month low of $7.72 and a 12-month high of $8.37. The company’s 50-day moving average price is $8.13 and its 200 day moving average price is $8.11.

The GDL Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 5.78%.

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.