Gdl Fund (GDL) Files Form 4 Insider Buying : Mario J Gabelli Buys 168,400 Shares

Gdl Fund (GDL): Mario J Gabelli , director 10% owner other of Gdl Fund purchased 168,400 shares on Sep 20, 2016. The Insider buying transaction was reported by the company on Sep 22, 2016 to the Securities and Exchange Commission. The shares were purchased at $50.40 per share for a total value of $8,487,360.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Jan 15, 2016, Michael J Melarkey (director) sold 2,000 shares at $9.77 per share price.On Aug 18, 2015, Mario J Gabelli (director other) purchased 1,844 shares at $10.18 per share price.

The GDL Fund is a diversified closed-end management investment company. The Fund’s primary investment objective is to achieve absolute returns in various market conditions without excessive risk of capital. The Company invests in Health Care Energy and Utilities Retail Financial Services Automotive: Parts and Accessories Food and Beverage Telecommunications United States Government Obligations Computer Software and Services among others. Gabelli Funds LLC is the adviser to the Fund. The Fund will invest at least 80% of its assets under normal market conditions in securities or hedging arrangements relating to companies involved in corporate transactions or reorganizations giving rise to the possibility of realizing gains upon or within relatively short periods of time after the completion of such transactions or reorganizations. The Fund may invest a high percentage of its assets in specific sectors of the market to achieve a potentially greater investment return.

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