The New Mario Gabelli’s Gamco Investors, Inc Et Al Holding in Gdl Fund
Gamco Investors, Inc Et Al filed with the SEC SC 13D/A form for Gdl Fund. The form can be accessed here: 000080724916000460. As reported in Mario Gabelli’s Gamco Investors, Inc Et Al’s form, the filler as of late owns 7.45% or 1,410,915 shares of the Finance–company.
Gdl Fund stake is a new one for the for the hedge fund and it was filed because of activity on September 30, 2016. We feel this shows Mario Gabelli’s Gamco Investors, Inc Et Al’s positive view for the stock.
The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Mario Gabelli’s Gamco Investors, Inc Et Al’s US equities portfolio is in this sector.
Gdl Fund Institutional Sentiment
Latest Security and Exchange filings show 39 investors own Gdl Fund. The institutional ownership in Q3 2015 is low, at 44.05% of the outstanding shares. This is increased by 67526 the total institutional shares. 8333471 were the shares owned by these institutional investors. In total 4 funds opened new Gdl Fund stakes, 7 increased stakes. There were 3 that closed positions and 14 reduced them.
Punch & Associates Investment Management Inc is an institutional investor bullish on Gdl Fund, owning 543977 shares as of Q3 2015 for 0.73% of its portfolio. Summit Capital Management Llc owns 85138 shares or 0.41% of its portfolio. have 0.68% of their stock portfolio for 296130 shares. Further, Financial & Investment Management Group Ltd reported stake worth 0.66% of its US stock portfolio. The WA Glacier Peak Capital Llc owns 776857 shares. Gdl Fund is 4.22% of the manager’s US portfolio.
The GDL Fund is a diversified closed-end management investment fund. The Fund’s primary investment objective is to achieve absolute returns in various market conditions without excessive risk of capital. The Fund will seek to achieve its objective by investing in merger arbitrage transactions and, to a lesser extent, in corporate reorganizations involving stubs, spin-offs and liquidations. It invests in financial services, energy and utilities, semiconductors, food and beverage, health care, cable and satellite, real estate investments trusts, specialty chemicals, computer software and services, telecommunications, business services, transportation, building and construction, electronics, retail, wireless communications, paper and forest products, entertainment, metals and mining, publishing, machinery, consumer products and services, computer hardware, hotels and gaming, aerospace and defense, real estate and educational services. The Fund’s advisor is Gabelli Funds, LLC.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment is 1.4 in 2016 Q2. Its the same as in 2016Q1. The ratio is the same, as 1 funds sold all GDL Fund shares owned while 14 reduced positions. only 4 funds bought stakes while 17 increased positions. They now own 8.61 million shares or 1.49% less from 8.75 million shares in 2016Q1.
Glacier Peak Capital Ltd Co has 812,243 shares for 8.55% of their US portfolio. Round Table Services Limited Liability Com accumulated 0.19% or 34,300 shares. Lazard Asset Mgmt Limited Liability, a New York-based fund reported 1.92M shares. Lpl Finance Ltd Co reported 15,419 shares or 0% of all its holdings. Td Cap Ltd Co last reported 0% of its portfolio in the stock. Wells Fargo Mn has 45,158 shares for 0% of their US portfolio. Stifel Financial holds 38,472 shares or 0% of its portfolio. Morgan Stanley holds 0% or 183,848 shares in its portfolio. Markston Limited Liability Co has 100 shares for 0% of their US portfolio. Envestnet Asset Mgmt owns 4,272 shares or 0% of their US portfolio. Jolley Asset Limited accumulated 6,820 shares or 0.05% of the stock. The New York-based Horizon Kinetics Llc has invested 0.03% in GDL Fund (NYSE:GDL). The Pennsylvania-based Tfs Capital Limited has invested 0.03% in GDL Fund (NYSE:GDL). Deutsche Bank & Trust Ag last reported 0% of its portfolio in the stock. Punch Assoc Investment Management reported 399,632 shares or 0.46% of all its holdings.
About 13,003 shares traded hands. GDL Fund (NYSE:GDL) has declined 1.30% since March 10, 2016 and is downtrending. It has underperformed by 8.82% the S&P500.
The GDL Fund is a diversified closed-end management investment fund. The company has a market cap of $185.24 million. The Fund’s primary investment objective is to achieve absolute returns in various market conditions without excessive risk of capital. It currently has negative earnings. The Fund will seek to achieve its objective by investing in merger arbitrage transactions and, to a lesser extent, in corporate reorganizations involving stubs, spin-offs and liquidations.
More notable recent GDL Fund (NYSE:GDL) news were published by: Businesswire.com which released: “The GDL Fund Declares Third Quarter Distribution of $0.16 Per Share” on August 17, 2016, also Businesswire.com with their article: “The GDL Fund Declares Fourth Quarter Distribution of $0.16 Per Share” published on August 20, 2015, Seekingalpha.com published: “GDL Fund Preferred B: Good Investment for the Risk Averse” on April 06, 2011. More interesting news about GDL Fund (NYSE:GDL) were released by: Seekingalpha.com and their article: “3 Merger Arbitrage Opportunities” published on September 02, 2015 as well as Seekingalpha.com‘s news article titled: “Finding Bargains Among High Income CEFs Selling At Historic Discounts” with publication date: August 31, 2015.
GDL Company Profile
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.
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