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

The GDL Fund (NYSE:GDL)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.44 and traded as high as $8.44. The GDL Fund shares last traded at $8.4150, with a volume of 4,668 shares changing hands.

The GDL Fund Trading Up 0.1%

The stock’s 50-day moving average is $8.42 and its 200-day moving average is $8.44.

The GDL Fund Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th 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 Wednesday, September 16th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GDL. Focus Partners Wealth bought a new stake in The GDL Fund during the 4th quarter worth $5,013,000. NewEdge Advisors LLC boosted its stake in shares of The GDL Fund by 2.0% during the fourth quarter. NewEdge Advisors LLC now owns 127,532 shares of the investment management company’s stock valued at $1,080,000 after purchasing an additional 2,497 shares in the last quarter. Osaic Holdings Inc. boosted its stake 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 purchasing an additional 35,251 shares in the last quarter. Evolve Private Wealth LLC bought a new stake in shares of The GDL Fund during the fourth quarter worth about $164,000. Finally, Raymond James Financial Inc. bought a new stake in shares of The GDL Fund during the second quarter worth about $29,000.

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.