Short Interest in The GDL Fund (NYSE:GDL) Expands By 420.0%

The GDL Fund (NYSE:GDL) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 10,400 shares, a growth of 420.0% from the January 31st total of 2,000 shares. Based on an average daily volume of 18,500 shares, the short-interest ratio is presently 0.6 days.

Institutional Investors Weigh In On The GDL Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new stake in shares of The GDL Fund during the 4th quarter valued at about $14,810,000. Kovitz Investment Group Partners LLC bought a new position in The GDL Fund during the 3rd quarter valued at about $6,243,000. Independent Advisor Alliance bought a new stake in shares of The GDL Fund during the fourth quarter worth $4,920,000. Gamco Investors INC. ET AL boosted its position in The GDL Fund by 40.1% in the 4th quarter. Gamco Investors INC. ET AL now owns 441,040 shares of the investment management company’s stock valued at $3,537,000 after buying an additional 126,300 shares during the last quarter. Finally, Cornerstone Advisors LLC raised its stake in shares of 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 worth $1,638,000 after buying an additional 12,699 shares during the last quarter.

The GDL Fund Stock Performance

GDL stock remained flat at $8.32 during trading on Thursday. The company’s stock had a trading volume of 985 shares, compared to its average volume of 21,531. The GDL Fund has a 1 year low of $7.72 and a 1 year high of $8.38. The firm’s 50-day simple moving average is $8.17 and its 200 day simple moving average is $8.12.

The GDL Fund Announces Dividend

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 dividend of $0.12 per share. The ex-dividend date is Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.77%.

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.