The GDL Fund (NYSE:GDL – Get Free Report) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 8,903 shares, an increase of 65.2% from the September 15th total of 5,389 shares. Based on an average daily volume of 14,329 shares, the days-to-cover ratio is presently 0.6 days.
The GDL Fund Stock Down 0.1%
Shares of GDL opened at $8.31 on Friday. The stock has a 50 day moving average price of $8.39 and a 200 day moving average price of $8.42. The GDL Fund has a 52-week low of $8.01 and a 52-week high of $8.67.
The GDL Fund Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Wednesday, September 16th.
Institutional Inflows and Outflows
A hedge fund recently raised its stake in The GDL Fund stock. GatePass Capital LLC lifted its stake in The GDL Fund (NYSE:GDL – Free Report) by 87.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,150 shares of the investment management company’s stock after buying an additional 24,750 shares during the period. GatePass Capital LLC’s holdings in The GDL Fund were worth $443,000 at the end of the most recent quarter.
The GDL Fund Company Profile
The GDL Fund, Inc (NYSE:GDL) is a closed-end investment company focused on long-term capital appreciation. The fund invests in event-driven opportunities, including merger arbitrage, restructurings, recapitalizations, tender offers, exchange offers and other corporate transactions that may create potential investment opportunities.
Its portfolio may include equity, debt and other securities issued by companies involved in significant corporate or financial events. Through this strategy, the fund seeks to benefit from changes in the value of securities as transactions are announced, negotiated or completed.
Further Reading
- Five stocks we like better than The GDL Fund
- ASML Can’t Keep Up With AI Demand—Why That’s a Good Thing
- Enovix’s 100,000-Battery Drone Order Sets Up a Test of Its Production Plans
- AMD’s Support Could Help Fermi Stock Overcome Its Biggest Hurdle
- Beyond the GPU: Credo Paves the Next AI Data Superhighway
Receive News & Ratings for The GDL Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The GDL Fund and related companies with MarketBeat.com's FREE daily email newsletter.
