The GDL Fund (NYSE:GDL) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

The GDL Fund (NYSE:GDL)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.47 and traded as high as $8.58. The GDL Fund shares last traded at $8.5350, with a volume of 6,192 shares.

The GDL Fund Trading Down 0.3%

The company has a fifty day moving average of $8.48 and a two-hundred day moving average of $8.47.

The GDL Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 12th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, December 12th.

Hedge Funds Weigh In On The GDL Fund

A number of hedge funds have recently bought and sold shares of the company. Gamco Investors INC. ET AL grew its position 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 buying an additional 186,052 shares during the period. Osaic Holdings Inc. boosted its stake in 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 worth $329,000 after acquiring an additional 35,251 shares in the last quarter. Raymond James Financial Inc. bought a new position in The GDL Fund during the second quarter worth $29,000. Finally, NewEdge Advisors LLC grew its holdings in The GDL Fund by 1.5% in the first 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 during the period.

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.