Short Interest in The GDL Fund (NYSE:GDL) Decreases By 45.1%

The GDL Fund (NYSE:GDL) was the target of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 6,700 shares, a decrease of 45.1% from the March 15th total of 12,200 shares. Based on an average daily volume of 15,800 shares, the short-interest ratio is currently 0.4 days.

Institutional Trading of The GDL Fund

Hedge funds have recently bought and sold shares of the company. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in The GDL Fund in the 4th quarter worth approximately $14,810,000. Independent Advisor Alliance acquired a new stake in shares of The GDL Fund in the fourth quarter worth $4,920,000. Gamco Investors INC. ET AL raised its position in The GDL Fund by 40.1% during the fourth 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 period. Envestnet Asset Management Inc. raised its position in The GDL Fund by 3.8% during the fourth quarter. Envestnet Asset Management Inc. now owns 97,327 shares of the investment management company’s stock valued at $781,000 after buying an additional 3,519 shares during the period. Finally, Park Avenue Securities LLC lifted its stake in The GDL Fund by 8.1% in the 4th quarter. Park Avenue Securities LLC now owns 90,208 shares of the investment management company’s stock worth $723,000 after acquiring an additional 6,736 shares in the last quarter.

The GDL Fund Stock Up 1.6 %

NYSE GDL opened at $7.96 on Wednesday. The business’s fifty day moving average is $8.23 and its two-hundred day moving average is $8.16. The GDL Fund has a 1 year low of $7.71 and a 1 year high of $8.40.

The GDL Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were paid a $0.12 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.48 dividend on an annualized basis and a yield of 6.03%.

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.