Gyrodyne (NASDAQ:GYRO) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Gyrodyne , LLC (NASDAQ:GYRO) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.64 and traded as low as $9.06. Gyrodyne shares last traded at $9.03, with a volume of 1,048 shares.

Gyrodyne Stock Down 3.2%

The company has a 50 day moving average of $9.32 and a 200-day moving average of $9.65.

Hedge Funds Weigh In On Gyrodyne

A number of hedge funds have recently bought and sold shares of the business. Advisory Services Network LLC bought a new stake in Gyrodyne in the 3rd quarter valued at about $77,000. Susquehanna International Group LLP acquired a new stake in shares of Gyrodyne in the third quarter valued at approximately $142,000. Bulldog Investors LLP bought a new stake in shares of Gyrodyne in the third quarter valued at approximately $601,000. Finally, Teton Advisors LLC bought a new stake in shares of Gyrodyne in the third quarter valued at approximately $177,000. 71.36% of the stock is owned by institutional investors.

Gyrodyne Company Profile

Gyrodyne Company of America, Inc is a New York–based real estate investment and development firm specializing in medical office buildings and professional facilities. Listed on the NASDAQ under the ticker GYRO, the company’s principal business activity is the ownership, leasing and management of commercial properties tailored to healthcare and life sciences tenants. By focusing on outpatient diagnostic and treatment centers, clinical laboratories and related professional suites, Gyrodyne generates steady rental income and seeks to provide purpose-built environments that meet the specific needs of medical practitioners and research organizations.

The company’s core property portfolio is anchored by an approximately 87-acre campus situated in Stony Brook, Long Island.