The GDL Fund (NYSE:GDL) Short Interest Update

The GDL Fund (NYSE:GDL) was the target of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 17,800 shares, an increase of 71.2% from the February 13th total of 10,400 shares. Based on an average daily volume of 18,400 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of The GDL Fund

A number of institutional investors have recently bought and sold shares of the company. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in The GDL Fund during the fourth quarter worth $14,810,000. Kovitz Investment Group Partners LLC acquired a new position in shares of The GDL Fund in the third quarter worth $6,243,000. Independent Advisor Alliance acquired a new position in shares of The GDL Fund in the fourth quarter worth $4,920,000. Gamco Investors INC. ET AL raised its holdings in shares of The GDL Fund by 40.1% in the fourth quarter. Gamco Investors INC. ET AL now owns 441,040 shares of the investment management company’s stock worth $3,537,000 after acquiring an additional 126,300 shares during the last quarter. Finally, Cornerstone Advisors LLC raised its holdings in shares of The GDL Fund by 6.7% in the third quarter. Cornerstone Advisors LLC now owns 200,987 shares of the investment management company’s stock worth $1,638,000 after acquiring an additional 12,699 shares during the last quarter.

The GDL Fund Price Performance

Shares of GDL stock opened at $8.34 on Friday. The firm has a 50 day moving average of $8.24 and a two-hundred day moving average of $8.15. The GDL Fund has a 52 week low of $7.72 and a 52 week high of $8.40.

The GDL Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be issued a $0.12 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.48 annualized dividend and a dividend yield of 5.76%.

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.