Gyrodyne (NASDAQ:GYRO) Shares Cross Below 200-Day Moving Average – Time to Sell?

Gyrodyne , LLC (NASDAQ:GYRO) passed 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.

Gyrodyne Stock Performance

The business’s 50 day simple moving average is $7.28 and its 200 day simple moving average is $8.33.

Institutional Investors Weigh In On Gyrodyne

Several hedge funds have recently made changes to their positions in GYRO. Advisory Services Network LLC purchased a new position in Gyrodyne during the 3rd quarter worth approximately $77,000. Susquehanna International Group LLP acquired a new stake in shares of Gyrodyne in the third quarter worth $142,000. Teton Advisors LLC acquired a new stake in shares of Gyrodyne in the third quarter worth $177,000. Finally, Bulldog Investors LLP purchased a new position in shares of Gyrodyne during the third quarter valued at $601,000. Hedge funds and other institutional investors own 71.36% of the company’s stock.

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.