Gyrodyne (NASDAQ:GYRO) Stock Price Crosses Below 200 Day Moving Average – Time to Sell?

Gyrodyne , LLC (NASDAQ:GYRO) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.67 and traded as low as $8.75. Gyrodyne shares last traded at $8.85, with a volume of 1,356 shares.

Gyrodyne Price Performance

The company has a fifty day simple moving average of $8.98 and a two-hundred day simple moving average of $9.67.

Hedge Funds Weigh In On Gyrodyne

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bulldog Investors LLP acquired a new stake in shares of Gyrodyne in the third quarter valued at approximately $601,000. Teton Advisors LLC purchased a new stake in Gyrodyne in the 3rd quarter valued at approximately $177,000. Susquehanna International Group LLP acquired a new stake in Gyrodyne during the 3rd quarter valued at $142,000. Finally, Advisory Services Network LLC purchased a new position in Gyrodyne during the third quarter worth $77,000. Institutional investors and hedge funds 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.