The Gdl Fund (NYSE:GDL) Experiences Heavy Trading Volume


(NYSE:GDL) shares saw heavy trading volume with 117K shares changing hands in the last trading session. Volume was up 171.39% over the stocks average daily volume.

Traders are more bearish on shares of The Gdl Fund at least if you consider the increase in short interest. The firm saw a rise in short interest of 13.39% as of the latest report on October 13, 2017. Short interest increased from 35,393 to 40,133 over that period. With short interest at 40,133 and short average daily volume at 23,644, days to cover is 2.0 and the short interest percentage is 0.00% as of October 13.

These funds have shifted positions in (GDL). As of quarter end Horizon Kinetics LLC had bought a total of 45,685 shares growing its position 14.9%. The value of the total investment in The Gdl Fund went from $3,155,000 to $3,603,000 a change of 14.2% since the last quarter. As of the end of the quarter Glacier Peak Capital LLC had disposed of 95,123 shares trimming its stake by 11.1%. The value of the company’s investment in The Gdl Fund decreased from $8,765,000 to $7,743,000 decreasing 11.7% for the reporting period.

Ubs Group Ag divested its ownership by selling 1,901 shares a decrease of 28.3%. Ubs Group Ag now controls 4,825 shares worth $49,000. The value of the position overall is down by 29.0%. As of the end of the quarter Royal Bank Of Canada had bought 983 shares growing its holdings by 5.7%. The value of the investment in GDL increased from $176,000 to $185,000 a change of $9,000 quarter over quarter.

The company is trading up by 0.20% since yesterday’s close of 9.85. The most current P/E ratio is N/A and the market cap is 178.39M.

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..