Gyrodyne (NASDAQ:GYRO) Stock Crosses Below 50 Day Moving Average – Here’s Why

Gyrodyne , LLC (NASDAQ:GYROGet Free Report)’s stock price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $6.77 and traded as low as $6.23. Gyrodyne shares last traded at $6.1260, with a volume of 116 shares trading hands.

Gyrodyne Stock Down 1.7%

The stock’s fifty day moving average is $6.77 and its two-hundred day moving average is $7.93.

Hedge Funds Weigh In On Gyrodyne

Several institutional investors and hedge funds have recently bought and sold shares of the company. Bulldog Investors LLP bought a new position in shares of Gyrodyne during the 3rd quarter worth $601,000. Susquehanna International Group LLP bought a new position in shares of Gyrodyne in the third quarter worth approximately $142,000. Finally, Advisory Services Network LLC purchased a new stake in Gyrodyne in the third quarter valued at approximately $77,000. 71.36% of the stock is owned by institutional investors.

Gyrodyne Company Profile

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Gyrodyne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gyrodyne and related companies with MarketBeat.com's FREE daily email newsletter.