GDL Fund, The of Beneficial In shares had a trading volume of 64K by the end of trading on Friday. Shares saw a steep increase in trading volume of 88.14% over the normal average daily volume.
There has been some buying insider activity on GDL Fund, The of Beneficial In (NYSE:GDL) recently. Mario J. Gabelli, Director disclosed the purchase of 223 shares of (GDL). The shares were purchased at an average price of $10.00. The Director now owns $370,000 of the stock per the Form 4 SEC filing.
Here are a few other firms who have also updated their positions. As of quarter end Financial & Investment Management Group Ltd had bought 17,479 shares growing its holdings by 4.9%. The value of the investment in GDL Fund, The of Beneficial In increased from $3,481,000 to $3,809,000 increasing 9.4% quarter to quarter. As of the end of the quarter Morgan Stanley had disposed of a total of 4,137 shares trimming its position 52.9%. The value of the total investment in GDL Fund, The of Beneficial In went from $77,000 to $36,000 a change of 53.2% for the reporting period.
Tower Research Capital LLC (trc) augmented its ownership by buying 104 shares an increase of 371.4%. Tower Research Capital LLC (trc) now holds 132 shares valued at $1,000. The value of the position overall is up by 0.0%. As of quarter end Raymond James & Associates had bought 203,815 shares growing its stake by 41.5%. The value in dollars increased from $4,829,000 to $6,835,000 a change of $2,006,000 since the last quarter.
The company is now up by 0.10 percent from yesterday’s close. Shares last traded at $10.26 which is just a bit higher than the 50 day moving average which is $10.17 and which is marginally higher than the 200 day moving average of $9.97. The 50 day moving average went up by +0.93% and the 200 day average was up $0.29.
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..