Short Interest in The GDL Fund (NYSE:GDL) Grows By 47.8%

The GDL Fund (NYSE:GDL) saw a significant 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 trading volume, of 10,400 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On The GDL Fund

A number of hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new stake in shares of The GDL Fund during the 2nd quarter valued at about $176,000. NewEdge Advisors LLC grew its position in 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 buying an additional 4,613 shares during the period. Cornerstone Advisors LLC grew its position 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 buying an additional 16,075 shares during the period. Wolverine Asset Management LLC increased its holdings in 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 buying an additional 1,638 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. raised its position 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 during the period.

The GDL Fund Stock Performance

Shares of NYSE GDL traded up $0.07 during trading on Friday, reaching $8.20. 8,445 shares of the company traded hands, compared to its average volume of 10,231. The firm has a 50 day simple moving average of $8.04 and a 200-day simple moving average of $7.93. The GDL Fund has a 52-week low of $7.65 and a 52-week high of $8.20.

The GDL Fund Dividend Announcement

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

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.