The GDL Fund (NYSE:GDL) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

The GDL Fund (NYSE:GDL)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.42 and traded as high as $8.58. The GDL Fund shares last traded at $8.55, with a volume of 3,290 shares.

The GDL Fund Trading Up 0.7%

The stock has a fifty day moving average price of $8.50 and a two-hundred day moving average price of $8.42.

The GDL Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 12th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Friday, December 12th.

Institutional Trading of The GDL Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its position in The GDL Fund by 1.5% in the first quarter. NewEdge Advisors LLC now owns 126,162 shares of the investment management company’s stock valued at $1,039,000 after purchasing an additional 1,840 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of The GDL Fund in the second quarter valued at approximately $715,000. Osaic Holdings Inc. boosted its position in The GDL Fund by 840.5% during the 2nd quarter. Osaic Holdings Inc. now owns 39,445 shares of the investment management company’s stock worth $329,000 after buying an additional 35,251 shares during the period. Matisse Capital bought a new stake in The GDL Fund during the 2nd quarter worth approximately $141,000. Finally, Virtu Financial LLC bought a new stake in The GDL Fund during the 1st quarter worth approximately $90,000.

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.