The GDL Fund (NYSE:GDL) Short Interest Up 420.0% in February

The GDL Fund (NYSE:GDL) saw a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 10,400 shares, an increase of 420.0% from the January 31st total of 2,000 shares. Based on an average daily volume of 18,500 shares, the short-interest ratio is presently 0.6 days.

The GDL Fund Price Performance

Shares of The GDL Fund stock traded up $0.06 during midday trading on Friday, hitting $8.37. 9,794 shares of the company were exchanged, compared to its average volume of 21,228. The firm has a 50 day simple moving average of $8.18 and a 200-day simple moving average of $8.13. The GDL Fund has a 52 week low of $7.72 and a 52 week high of $8.38.

The GDL Fund Announces Dividend

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 paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.48 annualized dividend and a dividend yield of 5.74%.

Institutional Investors Weigh In On The GDL Fund

A number of hedge funds have recently made changes to their positions in GDL. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in The GDL Fund during the fourth quarter worth about $14,810,000. Gamco Investors INC. ET AL boosted its holdings in shares of 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 acquiring an additional 126,300 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of The GDL Fund by 3.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 97,327 shares of the investment management company’s stock worth $781,000 after acquiring an additional 3,519 shares in the last quarter. Wells Fargo & Company MN increased its holdings in The GDL Fund by 98.9% during the 4th quarter. Wells Fargo & Company MN now owns 59,166 shares of the investment management company’s stock valued at $475,000 after purchasing an additional 29,423 shares in the last quarter. Finally, Independent Advisor Alliance bought a new position in The GDL Fund in the 4th quarter valued at $4,920,000.

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.