The GDL Fund (NYSE:GDL) Stock Price Crosses Above 200 Day Moving Average – Should You Sell?

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 $8.08 and traded as high as $8.23. The GDL Fund shares last traded at $8.21, with a volume of 9,694 shares.

The GDL Fund Stock Down 0.1 %

The company has a 50 day simple moving average of $8.09 and a two-hundred day simple moving average of $8.09.

The GDL Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.85%.

Institutional Investors Weigh In On The GDL Fund

Large investors have recently made changes to their positions in the company. NewEdge Advisors LLC boosted its stake in The GDL Fund by 3.9% during the second quarter. NewEdge Advisors LLC now owns 121,605 shares of the investment management company’s stock valued at $953,000 after buying an additional 4,613 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of The GDL Fund during the 2nd quarter worth approximately $176,000. Cornerstone Advisors LLC boosted its position in shares of The GDL Fund by 6.7% during the 3rd quarter. Cornerstone Advisors LLC now owns 200,987 shares of the investment management company’s stock valued at $1,638,000 after acquiring an additional 12,699 shares during the last quarter. Landscape Capital Management L.L.C. grew its holdings in shares of The GDL Fund by 26.6% in 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 in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new stake in The GDL Fund in the third quarter worth $6,243,000.

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.