The GDL Fund (NYSE:GDL) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Shares of The GDL Fund (NYSE:GDL) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.46 and traded as high as $8.50. The GDL Fund shares last traded at $8.44, with a volume of 10,620 shares changing hands.

The GDL Fund Trading Up 0.2%

The stock has a 50-day moving average of $8.45 and a 200 day moving average of $8.46.

The GDL Fund Dividend Announcement

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GatePass Capital LLC acquired a new position in The GDL Fund during the 4th quarter worth $241,000. Private Advisor Group LLC raised its stake in The GDL Fund by 25.1% during the 1st quarter. Private Advisor Group LLC now owns 14,970 shares of the investment management company’s stock worth $125,000 after buying an additional 3,000 shares during the period. Evolve Private Wealth LLC acquired a new stake in The GDL Fund during the 4th quarter worth $164,000. Osaic Holdings Inc. raised its stake 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 buying an additional 35,251 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in The GDL Fund by 1.5% during the 1st quarter. NewEdge Advisors LLC now owns 126,162 shares of the investment management company’s stock worth $1,039,000 after purchasing an additional 1,840 shares in the last quarter.

About The GDL Fund

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.