The GDL Fund (NYSE:GDL) Shares Cross Above 200-Day Moving Average of $7.89

Shares of The GDL Fund (NYSE:GDL) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.89 and traded as high as $8.04. The GDL Fund shares last traded at $8.01, with a volume of 8,719 shares changing hands.

The GDL Fund Price Performance

The company has a fifty day moving average of $7.90 and a 200 day moving average of $7.89.

The GDL Fund Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Thursday, June 13th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date was Thursday, June 13th.

Institutional Investors Weigh In On The GDL Fund

A number of institutional investors and hedge funds have recently bought and sold shares of GDL. Wolverine Asset Management LLC lifted its holdings in The GDL Fund by 45.6% during the 2nd quarter. Wolverine Asset Management LLC now owns 5,233 shares of the investment management company’s stock worth $41,000 after purchasing an additional 1,638 shares in the last quarter. B. Riley Wealth Advisors Inc. grew 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 acquiring an additional 12,469 shares during the last quarter. Park Avenue Securities LLC grew its position in The GDL Fund by 4.2% during the 1st 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 last quarter. Cornerstone Advisors LLC grew its position in The GDL Fund by 2.8% during the 4th quarter. Cornerstone Advisors LLC now owns 182,343 shares of the investment management company’s stock worth $1,466,000 after acquiring an additional 5,018 shares during the last quarter. Finally, Zazove Associates LLC increased its stake in shares of The GDL Fund by 6.5% during the fourth quarter. Zazove Associates LLC now owns 378,222 shares of the investment management company’s stock valued at $3,041,000 after buying an additional 23,071 shares during the period.

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.