The GDL Fund (NYSE:GDL) Short Interest Update

The GDL Fund (NYSE:GDL) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 12,200 shares, a decline of 31.5% from the February 28th total of 17,800 shares. Based on an average daily volume of 17,800 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Investors Weigh In On The GDL Fund

A number of institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. lifted its position 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 valued at $781,000 after acquiring an additional 3,519 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of The GDL Fund by 8.1% during the 4th quarter. Park Avenue Securities LLC now owns 90,208 shares of the investment management company’s stock valued at $723,000 after buying an additional 6,736 shares during the period. Wells Fargo & Company MN grew its holdings in shares of The GDL Fund by 98.9% in the fourth 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. Gamco Investors INC. ET AL increased its position in The GDL Fund by 40.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 441,040 shares of the investment management company’s stock valued at $3,537,000 after acquiring an additional 126,300 shares during the last quarter. Finally, Independent Advisor Alliance purchased a new position in The GDL Fund in the fourth quarter worth about $4,920,000.

The GDL Fund Stock Performance

The GDL Fund stock traded down $0.01 on Friday, hitting $8.28. 8,400 shares of the stock traded hands, compared to its average volume of 11,488. The GDL Fund has a 1 year low of $7.76 and a 1 year high of $8.40. The business’s fifty day simple moving average is $8.28 and its 200 day simple moving average is $8.16.

The GDL Fund Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.48 annualized dividend and a dividend yield of 5.80%.

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.