The GDL Fund (NYSE:GDL) Share Price Crosses Above Two Hundred Day Moving Average of $7.86

Shares of The GDL Fund (NYSE:GDL) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.86 and traded as high as $7.93. The GDL Fund shares last traded at $7.92, with a volume of 9,500 shares trading hands.

The GDL Fund Price Performance

The firm has a 50-day simple moving average of $7.90 and a two-hundred day simple moving average of $7.86.

The GDL Fund Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 15th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.07%.

Institutional Trading of The GDL Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of GDL. Freedom Wealth Alliance LLC acquired a new stake in shares of The GDL Fund during the 4th quarter worth about $26,000. Eudaimonia Partners LLC purchased a new stake in shares of The GDL Fund during the 1st quarter worth approximately $242,000. Blue Bell Private Wealth Management LLC acquired a new position in shares of The GDL Fund in the 2nd quarter valued at $40,000. UBS Group AG raised its stake in The GDL Fund by 24.4% during the 1st quarter. UBS Group AG now owns 15,339 shares of the investment management company’s stock worth $120,000 after acquiring an additional 3,009 shares in the last quarter. Finally, Integrated Capital Management Inc. boosted its stake in The GDL Fund by 41.5% in the second quarter. Integrated Capital Management Inc. now owns 17,462 shares of the investment management company’s stock valued at $137,000 after acquiring an additional 5,120 shares in the last quarter.

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.