The GDL Fund (NYSE:GDL) Short Interest Update

The GDL Fund (NYSE:GDL) was the recipient of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totaling 4,713 shares, a decrease of 37.5% from the April 15th total of 7,540 shares. Based on an average daily volume of 6,814 shares, the days-to-cover ratio is presently 0.7 days.

The GDL Fund Stock Performance

Shares of NYSE:GDL traded up $0.04 during trading on Monday, reaching $8.49. 4,894 shares of the company traded hands, compared to its average volume of 9,658. The GDL Fund has a 52-week low of $8.15 and a 52-week high of $8.67. The business’s fifty day moving average is $8.42 and its 200-day moving average is $8.46.

The GDL Fund Dividend Announcement

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

Institutional Trading of The GDL Fund

A number of institutional investors have recently made changes to their positions in GDL. NewEdge Advisors LLC boosted its stake 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 valued at $1,039,000 after purchasing an additional 1,840 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of The GDL Fund during the second quarter valued at approximately $29,000. Osaic Holdings Inc. raised its holdings in shares of The GDL Fund by 840.5% during 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 in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of The GDL Fund by 73.0% during the fourth quarter. Gamco Investors INC. ET AL now owns 441,040 shares of the investment management company’s stock valued at $3,736,000 after acquiring an additional 186,052 shares in the last quarter. Finally, GatePass Capital LLC bought a new position in shares of The GDL Fund during the fourth quarter valued at approximately $241,000.

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.