The GDL Fund (NYSE:GDL) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

The GDL Fund (NYSE:GDL) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.49 and traded as high as $8.58. The GDL Fund shares last traded at $8.58, with a volume of 14,167 shares.

The GDL Fund Stock Up 0.6%

The business’s 50 day moving average price is $8.49 and its 200-day moving average price is $8.49.

The GDL Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Tuesday, March 17th.

Institutional Investors Weigh In On The GDL Fund

Institutional investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth bought a new stake in shares of The GDL Fund in the 4th quarter valued at approximately $5,013,000. Gamco Investors INC. ET AL boosted its stake in The GDL Fund by 73.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 441,040 shares of the investment management company’s stock valued at $3,736,000 after buying an additional 186,052 shares in the last quarter. NewEdge Advisors LLC boosted its stake in The GDL Fund by 2.0% in the 4th quarter. NewEdge Advisors LLC now owns 127,532 shares of the investment management company’s stock valued at $1,080,000 after buying an additional 2,497 shares in the last quarter. Osaic Holdings Inc. grew its position in The GDL Fund by 840.5% in the second quarter. Osaic Holdings Inc. now owns 39,445 shares of the investment management company’s stock valued at $329,000 after acquiring an additional 35,251 shares during the period. Finally, GatePass Capital LLC acquired a new position in The GDL Fund during the fourth quarter worth $241,000.

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.