The GDL Fund (NYSE:GDL) Announces $0.12 Quarterly Dividend

The GDL Fund (NYSE:GDL) declared a quarterly dividend on Wednesday, May 14th, RTT News reports. Shareholders of record on Friday, June 13th will be given a dividend of 0.12 per share by the investment management company on Monday, June 23rd. This represents a $0.48 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend is Friday, June 13th.

The GDL Fund Stock Performance

Shares of NYSE GDL opened at $8.34 on Wednesday. The company’s 50 day moving average price is $8.14 and its 200-day moving average price is $8.17. The GDL Fund has a 52-week low of $7.71 and a 52-week high of $8.44.

Hedge Funds Weigh In On The GDL Fund

A hedge fund recently raised its stake in The GDL Fund stock. NewEdge Advisors LLC lifted its holdings in The GDL Fund (NYSE:GDL) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 126,162 shares of the investment management company’s stock after acquiring an additional 1,840 shares during the period. NewEdge Advisors LLC’s holdings in The GDL Fund were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission.

The GDL Fund Company Profile

The GDL Fund is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in public equity markets across the globe. It invests in stocks of companies operating across diversified sectors. The fund invests in securities of companies involved in publicly announced mergers, takeovers, tender offers, and leveraged buyouts.