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

The GDL Fund (NYSE:GDL) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.15 and traded as high as $8.35. The GDL Fund shares last traded at $8.34, with a volume of 21,973 shares trading hands.

The GDL Fund Stock Performance

The company’s 50 day moving average is $8.25 and its two-hundred day moving average is $8.15.

The GDL Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, March 17th. This represents a $0.48 annualized dividend and a yield of 5.76%.

Hedge Funds Weigh In On The GDL Fund

Several institutional investors have recently bought and sold shares of GDL. Landscape Capital Management L.L.C. lifted its position in The GDL Fund by 26.6% during the third quarter. Landscape Capital Management L.L.C. now owns 13,410 shares of the investment management company’s stock valued at $109,000 after purchasing an additional 2,820 shares during the last quarter. Wells Fargo & Company MN lifted its position in The GDL Fund by 98.9% during the fourth quarter. Wells Fargo & Company MN now owns 59,166 shares of the investment management company’s stock valued at $475,000 after purchasing an additional 29,423 shares during the last quarter. Park Avenue Securities LLC lifted its position in The GDL Fund by 8.1% during the fourth quarter. Park Avenue Securities LLC now owns 90,208 shares of the investment management company’s stock valued at $723,000 after purchasing an additional 6,736 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in The GDL Fund by 3.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 97,327 shares of the investment management company’s stock valued at $781,000 after purchasing an additional 3,519 shares during the last quarter. Finally, Cornerstone Advisors LLC lifted its position in The GDL Fund by 6.7% during the third quarter. Cornerstone Advisors LLC now owns 200,987 shares of the investment management company’s stock valued at $1,638,000 after purchasing an additional 12,699 shares during the last quarter.

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.