The GDL Fund (NYSE:GDL) Short Interest Update

The GDL Fund (NYSE:GDL) was the recipient of a significant decline in short interest in May. As of May 15th, there was short interest totaling 2,677 shares, a decline of 43.2% from the April 30th total of 4,713 shares. Based on an average daily volume of 7,039 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GDL. Focus Partners Wealth purchased a new position in The GDL Fund in the fourth quarter valued at about $5,013,000. Gamco Investors INC. ET AL boosted its stake in shares of The GDL Fund by 73.0% during 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 acquiring an additional 186,052 shares in the last quarter. Osaic Holdings Inc. boosted its stake 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. GatePass Capital LLC bought a new stake in shares of The GDL Fund during the 4th quarter worth about $241,000. Finally, Evolve Private Wealth LLC bought a new stake in shares of The GDL Fund during the 4th quarter worth about $164,000.

The GDL Fund Stock Performance

NYSE GDL traded up $0.02 on Tuesday, reaching $8.48. The stock had a trading volume of 31,179 shares, compared to its average volume of 9,740. The business has a 50 day moving average price of $8.43 and a 200 day moving average price of $8.47. The GDL Fund has a 1 year low of $8.15 and a 1 year high of $8.67.

The GDL Fund Announces Dividend

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

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.