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

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

The GDL Fund Price Performance

Shares of GDL traded up $0.03 during trading hours on Friday, reaching $8.34. The stock had a trading volume of 5,299 shares, compared to its average volume of 21,113. 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 12 month low of $7.72 and a 12 month high of $8.38.

The GDL Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.76%. The ex-dividend date of this dividend is Monday, March 17th.

Institutional Trading of The GDL Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GDL. Landscape Capital Management L.L.C. boosted its holdings in The GDL Fund by 26.6% during 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 acquiring an additional 2,820 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of The GDL Fund by 98.9% in the 4th quarter. Wells Fargo & Company MN now owns 59,166 shares of the investment management company’s stock worth $475,000 after purchasing an additional 29,423 shares during the period. Park Avenue Securities LLC increased its holdings 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 during the last quarter. Envestnet Asset Management Inc. boosted 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 worth $781,000 after purchasing an additional 3,519 shares during the period. Finally, Cornerstone Advisors LLC increased its stake in shares of The GDL Fund by 6.7% in the third quarter. Cornerstone Advisors LLC now owns 200,987 shares of the investment management company’s stock worth $1,638,000 after purchasing an additional 12,699 shares in the last quarter.

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.