Trading volume for GDL Fund, The of Beneficial In was 488 on Thursday. Trading volume was down 98.56% under the stocks average daily volume. Traders are a little more bearish of late if you look at the increase in short interest. The company saw a rise in short interest of 21.62% as of September 29, 2017 from the last reporting period. Short interest grew from 29,101 to 35,393 over that period.
These firms have modified their investment in GDL. As of the end of the quarter Horizon Kinetics LLC had bought a total of 14,471 shares growing its holdings by 4.9%. The value of the total investment in GDL Fund, The of Beneficial In increased from $2,884,000 to $3,155,000 increasing 9.4% since the last quarter. As of quarter end Glacier Peak Capital LLC had disposed of 99,040 shares trimming its position 10.4%. The value of the company’s investment in GDL Fund, The of Beneficial In went from $9,381,000 to $8,765,000 a change of $616,000 quarter to quarter.
Ubs Group Ag grew its holdings by buying 217 shares an increase of 3.3% as of 06/30/2017. Ubs Group Ag now controls 6,726 shares worth $69,000. The total value of its holdings increased 7.8%. As of quarter end Deschutes Portfolio Strategy, LLC had disposed of a total of 196,456 shares trimming its stake by 34.5%. The value of the investment in GDL decreased from $5,600,000 to $3,823,000 a change of 31.7% for the reporting period.
The company is now unchanged by 0.00% percent from yesterday’s close. The stock last traded at $10.28 slightly over $10.21, the 50 day moving average and which is just a bit higher than the 200 day moving average of $10.13. The 50 day moving average went up by +0.66% whereas the 200 day average was up by +1.45%.
The Gabelli Global Deal Fund (the Fund) is a non-diversified, closed-end management investment company. The Fund’s primary investment objective is to achieve absolute returns in various market conditions. The Fund will seek to achieve its objective by investing primarily in merger arbitrage transactions and, to a lesser extent, in corporate reorganizations involving stubs, spin-offs, and liquidations..