The GDL Fund (NYSE:GDL) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

The GDL Fund (NYSE:GDL)’s stock price passed below 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 low as $8.43. The GDL Fund shares last traded at $8.4550, with a volume of 7,982 shares traded.

The GDL Fund Stock Down 0.2%

The firm has a fifty day simple moving average of $8.46 and a 200 day simple moving average of $8.46.

The GDL Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Monday, June 15th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Monday, June 15th.

Hedge Funds Weigh In On The GDL Fund

A number of hedge funds have recently made changes to their positions in the stock. Focus Partners Wealth acquired a new stake in The GDL Fund during the fourth quarter worth about $5,013,000. Gamco Investors INC. ET AL lifted its stake in shares of The GDL Fund by 73.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 441,040 shares of the investment management company’s stock valued at $3,736,000 after purchasing an additional 186,052 shares in the last quarter. Osaic Holdings Inc. grew its holdings 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 purchasing an additional 35,251 shares during the period. GatePass Capital LLC acquired a new stake in The GDL Fund during the 4th quarter worth approximately $241,000. Finally, Evolve Private Wealth LLC acquired a new stake in The GDL Fund during the 4th quarter worth approximately $164,000.

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.