The GDL Fund (NYSE:GDL) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of The GDL Fund (NYSE:GDL) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.48 and traded as high as $8.53. The GDL Fund shares last traded at $8.49, with a volume of 3,347 shares trading hands.

The GDL Fund Stock Down 0.1%

The company has a fifty day simple moving average of $8.48 and a 200 day simple moving average of $8.48.

The GDL Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th will be paid a $0.12 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.48 dividend on an annualized basis and a yield of 5.7%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of The GDL Fund in the second quarter worth approximately $29,000. Closed End Fund Advisors Inc. bought a new stake in shares of The GDL Fund during the fourth quarter valued at approximately $95,000. Evolve Private Wealth LLC bought a new stake in shares of The GDL Fund during the fourth quarter valued at approximately $164,000. GatePass Capital LLC purchased a new position in The GDL Fund in the 4th quarter worth approximately $241,000. Finally, Osaic Holdings Inc. raised its holdings in The GDL Fund by 840.5% in 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 during the last quarter.

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.