The GDL Fund (NYSE:GDL) Shares Cross Above Two Hundred Day Moving Average of $7.90

The GDL Fund (NYSE:GDL)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $7.90 and traded as high as $7.97. The GDL Fund shares last traded at $7.90, with a volume of 7,784 shares trading hands.

The GDL Fund Stock Down 0.4 %

The stock has a fifty day moving average price of $7.87 and a 200-day moving average price of $7.90.

The GDL Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Thursday, June 13th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 6.08%. The ex-dividend date of this dividend is Thursday, June 13th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Wolverine Asset Management LLC increased its holdings in shares of The GDL Fund by 360.6% in the third quarter. Wolverine Asset Management LLC now owns 6,891 shares of the investment management company’s stock valued at $53,000 after purchasing an additional 5,395 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in The GDL Fund by 10.0% during the third quarter. B. Riley Wealth Advisors Inc. now owns 61,796 shares of the investment management company’s stock worth $479,000 after acquiring an additional 5,608 shares during the period. Park Avenue Securities LLC grew its holdings in The GDL Fund by 4.2% during the first quarter. Park Avenue Securities LLC now owns 88,958 shares of the investment management company’s stock worth $708,000 after acquiring an additional 3,581 shares during the period. Cornerstone Advisors LLC grew its holdings in The GDL Fund by 2.8% during the fourth quarter. Cornerstone Advisors LLC now owns 182,343 shares of the investment management company’s stock worth $1,466,000 after acquiring an additional 5,018 shares during the period. Finally, Zazove Associates LLC grew its holdings in The GDL Fund by 6.5% during the fourth quarter. Zazove Associates LLC now owns 378,222 shares of the investment management company’s stock worth $3,041,000 after acquiring an additional 23,071 shares during the period.

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.