Gyrodyne (NASDAQ:GYRO) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Gyrodyne , LLC (NASDAQ:GYRO)’s share price crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.86 and traded as low as $7.25. Gyrodyne shares last traded at $7.56, with a volume of 351 shares traded.

Gyrodyne Stock Performance

The business has a 50-day simple moving average of $8.05 and a two-hundred day simple moving average of $8.86.

Institutional Trading of Gyrodyne

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

About Gyrodyne

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.