The GDL Fund (NYSE:GDL) Short Interest Update

The GDL Fund (NYSE:GDL) was the recipient of a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 4,400 shares, an increase of 15.8% from the November 15th total of 3,800 shares. Based on an average daily volume of 6,700 shares, the days-to-cover ratio is presently 0.7 days.

The GDL Fund Stock Performance

Shares of GDL traded down $0.01 during mid-day trading on Monday, reaching $7.98. 36,797 shares of the company’s stock traded hands, compared to its average volume of 9,664. The GDL Fund has a 12 month low of $7.72 and a 12 month high of $8.29. The business’s 50-day moving average price is $8.13 and its 200-day moving average price is $8.03.

The GDL Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 6.02%. The ex-dividend date is Friday, December 13th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Kovitz Investment Group Partners LLC bought a new stake in shares of The GDL Fund during the third quarter valued at about $6,243,000. Sanctuary Advisors LLC acquired a new position in The GDL Fund during the 2nd quarter valued at about $176,000. Cornerstone Advisors LLC raised its position in shares of The GDL Fund by 9.3% during the 2nd quarter. Cornerstone Advisors LLC now owns 188,288 shares of the investment management company’s stock worth $1,476,000 after buying an additional 16,075 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of The GDL Fund by 3.9% in the 2nd quarter. NewEdge Advisors LLC now owns 121,605 shares of the investment management company’s stock worth $953,000 after acquiring an additional 4,613 shares during the period. Finally, Landscape Capital Management L.L.C. lifted its stake in shares of The GDL Fund by 26.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 13,410 shares of the investment management company’s stock worth $109,000 after acquiring an additional 2,820 shares during the period.

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.