The GDL Fund (NYSE:GDL) Short Interest Update

The GDL Fund (NYSE:GDL) was the recipient of a significant growth in short interest in November. As of November 30th, there was short interest totalling 4,400 shares, a growth of 15.8% from the November 15th total of 3,800 shares. Based on an average trading volume of 6,700 shares, the short-interest ratio is currently 0.7 days.

The GDL Fund Price Performance

GDL stock traded down $0.01 during mid-day trading on Monday, hitting $7.98. 36,797 shares of the company were exchanged, compared to its average volume of 9,664. 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 twelve month low of $7.72 and a twelve month high of $8.29.

The GDL Fund Announces Dividend

The company also recently declared 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 6.02%.

Institutional Trading of The GDL Fund

Several hedge funds and other institutional investors have recently bought and sold shares of GDL. Wolverine Asset Management LLC increased its holdings in shares of The GDL Fund by 45.6% in the 2nd quarter. Wolverine Asset Management LLC now owns 5,233 shares of the investment management company’s stock valued at $41,000 after acquiring an additional 1,638 shares during the last quarter. Cornerstone Advisors LLC increased its stake in The GDL Fund by 9.3% during the second quarter. Cornerstone Advisors LLC now owns 188,288 shares of the investment management company’s stock valued at $1,476,000 after purchasing an additional 16,075 shares during the last quarter. NewEdge Advisors LLC raised 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 worth $953,000 after purchasing an additional 4,613 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of The GDL Fund during the second quarter worth $176,000. Finally, Landscape Capital Management L.L.C. lifted its position in shares of 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 worth $109,000 after buying an additional 2,820 shares during the last quarter.

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.