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

The GDL Fund (NYSE:GDL)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.47 and traded as high as $8.58. The GDL Fund shares last traded at $8.5350, with a volume of 6,192 shares traded.

The GDL Fund Stock Down 0.4%

The firm has a fifty day moving average of $8.47 and a two-hundred day moving average of $8.47.

The GDL Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 12th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, December 12th. This represents a $0.48 annualized dividend and a dividend yield of 5.6%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC lifted its position in shares of The GDL Fund by 1.5% during the first quarter. NewEdge Advisors LLC now owns 126,162 shares of the investment management company’s stock worth $1,039,000 after acquiring an additional 1,840 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of The GDL Fund during the 2nd quarter valued at $29,000. Osaic Holdings Inc. lifted its holdings in 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 purchasing an additional 35,251 shares in the last quarter. Finally, 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 worth $3,736,000 after purchasing an additional 186,052 shares during the period.

The GDL Fund Company Profile

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.