The GDL Fund (NYSE:GDL) Short Interest Update

by · The Markets Daily

The GDL Fund (NYSE:GDL – Get Free Report) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 3,400 shares, a growth of 47.8% from the August 31st total of 2,300 shares. Based on an average daily volume of 10,400 shares, the short-interest ratio is presently 0.3 days.

The GDL Fund Stock Up 0.9 %

NYSE GDL traded up $0.07 during trading on Friday, hitting $8.20. The company had a trading volume of 8,445 shares, compared to its average volume of 10,231. The company’s fifty day moving average is $8.04 and its 200-day moving average is $7.93. The GDL Fund has a one year low of $7.65 and a one year high of $8.20.

The GDL Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 16th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.48 annualized dividend and a dividend yield of 5.85%.

Hedge Funds Weigh In On The GDL Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDL. Wolverine Asset Management LLC lifted its holdings in shares of The GDL Fund by 45.6% during the second quarter. Wolverine Asset Management LLC now owns 5,233 shares of the investment management company’s stock valued at $41,000 after purchasing an additional 1,638 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in The GDL Fund during the second quarter valued at $176,000. B. Riley Wealth Advisors Inc. boosted its holdings in The GDL Fund by 25.3% in the first 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 12,469 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of The GDL Fund by 4.2% in 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 last quarter. Finally, NewEdge Advisors LLC increased its holdings in shares of 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 acquiring an additional 4,613 shares in the last quarter.

The GDL Fund Company Profile

(Get Free Report)

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.

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