The GDL Fund (NYSE:GDL) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

The GDL Fund (NYSE:GDL) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.47 and traded as high as $8.52. The GDL Fund shares last traded at $8.49, with a volume of 11,650 shares.

The GDL Fund Trading Up 0.4%

The company has a 50 day moving average of $8.42 and a 200 day moving average of $8.47.

The GDL Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Monday, June 15th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC boosted its position in shares of The GDL Fund by 2.0% during the 4th quarter. NewEdge Advisors LLC now owns 127,532 shares of the investment management company’s stock worth $1,080,000 after acquiring an additional 2,497 shares in the last quarter. Evolve Private Wealth LLC acquired a new position in shares of The GDL Fund during the 4th quarter worth about $164,000. Focus Partners Wealth acquired a new position in shares of The GDL Fund during the 4th quarter worth about $5,013,000. Osaic Holdings Inc. boosted its position in shares of The GDL Fund by 840.5% during the 2nd quarter. Osaic Holdings Inc. now owns 39,445 shares of the investment management company’s stock worth $329,000 after acquiring an additional 35,251 shares in the last quarter. Finally, GatePass Capital LLC boosted its position in shares of The GDL Fund by 87.1% during the 1st quarter. GatePass Capital LLC now owns 53,150 shares of the investment management company’s stock worth $443,000 after acquiring an additional 24,750 shares in the last quarter.

About The GDL Fund

The GDL Fund, Inc (NYSE: GDL) is a closed-end management investment company that seeks total return through a combination of current income and capital appreciation. The fund maintains a diversified portfolio of primarily U.S. dollar-denominated fixed-income securities, including investment-grade and high-yield corporate bonds, asset-backed and mortgage-related securities, and sovereign debt. In addition to cash instruments, the fund employs derivative instruments—most notably credit default swaps and other credit derivatives—to gain exposure to or hedge against movements in credit spreads.

Since its inception in the mid-2000s, The GDL Fund has aimed to capitalize on opportunities across the credit spectrum by blending traditional bond investments with credit derivative strategies.