The GDL Fund (NYSE:GDL) Stock Crosses Above 200-Day Moving Average – What’s Next?

The GDL Fund (NYSE:GDL)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $8.15 and traded as high as $8.35. The GDL Fund shares last traded at $8.34, with a volume of 21,973 shares.

The GDL Fund Stock Up 0.3 %

The company’s fifty day moving average price is $8.25 and its 200-day moving average price is $8.15.

The GDL Fund Dividend Announcement

The company also recently announced 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%.

Institutional Investors Weigh In On The GDL Fund

Several institutional investors have recently made changes to their positions in GDL. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in The GDL Fund in the 4th quarter worth about $14,810,000. Kovitz Investment Group Partners LLC purchased a new position in The GDL Fund in the 3rd quarter worth about $6,243,000. Independent Advisor Alliance purchased a new position in The GDL Fund in the 4th quarter worth about $4,920,000. Gamco Investors INC. ET AL increased its stake 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 worth $3,537,000 after buying an additional 126,300 shares during the period. Finally, Wells Fargo & Company MN increased its stake in The GDL Fund by 98.9% in the 4th quarter. Wells Fargo & Company MN now owns 59,166 shares of the investment management company’s stock worth $475,000 after buying an additional 29,423 shares during the period.

The GDL Fund Company Profile

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.