The GDL Fund (NYSE:GDL) Sees Significant Growth in Short Interest

The GDL Fund (NYSE:GDL) saw a large increase in short interest during the month of November. As of November 30th, there was short interest totalling 4,400 shares, an increase of 15.8% from the November 15th total of 3,800 shares. Based on an average daily volume of 6,700 shares, the short-interest ratio is presently 0.7 days.

The GDL Fund Trading Up 0.3 %

Shares of GDL stock traded up $0.02 during trading hours on Monday, hitting $8.01. 26,606 shares of the company were exchanged, compared to its average volume of 9,622. The firm has a fifty day simple moving average of $8.13 and a 200 day simple moving average of $8.03. The GDL Fund has a 52-week low of $7.72 and a 52-week high of $8.29.

The GDL Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be paid a $0.12 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.48 dividend on an annualized basis and a yield of 5.99%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Kovitz Investment Group Partners LLC purchased a new position in The GDL Fund in the 3rd quarter valued at approximately $6,243,000. Landscape Capital Management L.L.C. boosted its holdings in The GDL Fund by 26.6% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 13,410 shares of the investment management company’s stock valued at $109,000 after purchasing an additional 2,820 shares during the period. Cornerstone Advisors LLC boosted its holdings in The GDL Fund by 6.7% in the 3rd quarter. Cornerstone Advisors LLC now owns 200,987 shares of the investment management company’s stock valued at $1,638,000 after purchasing an additional 12,699 shares during the period. Sanctuary Advisors LLC bought a new position in The GDL Fund in the 2nd quarter valued at $176,000. Finally, NewEdge Advisors LLC boosted its holdings in The GDL Fund by 3.9% in the 2nd quarter. NewEdge Advisors LLC now owns 121,605 shares of the investment management company’s stock valued at $953,000 after purchasing an additional 4,613 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.