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

Shares of Gyrodyne , LLC (NASDAQ:GYRO) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.33 and traded as low as $6.17. Gyrodyne shares last traded at $6.17, with a volume of 348 shares trading hands.

Gyrodyne Stock Down 0.8%

The firm has a fifty day moving average of $7.28 and a two-hundred day moving average of $8.33.

Hedge Funds Weigh In On Gyrodyne

A number of large investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC bought a new position in Gyrodyne in the third quarter worth about $77,000. Susquehanna International Group LLP bought a new position in Gyrodyne in the third quarter worth about $142,000. Teton Advisors LLC bought a new position in Gyrodyne in the third quarter worth about $177,000. Finally, Bulldog Investors LLP bought a new position in Gyrodyne in the third quarter worth about $601,000. 71.36% of the stock is currently 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.