The GDL Fund (NYSE:GDL – Get Rating) announced a quarterly dividend on Tuesday, May 17th, Wall Street Journal reports. Stockholders of record on Wednesday, June 15th will be paid a dividend of 0.12 per share by the investment management company on Thursday, June 23rd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.87%. The ex-dividend date of this dividend is Tuesday, June 14th.
The GDL Fund has increased its dividend by an average of 6.3% annually over the last three years.
Shares of The GDL Fund stock opened at $8.18 on Wednesday. The firm has a 50-day moving average of $8.46 and a 200-day moving average of $8.70. The GDL Fund has a 52-week low of $8.03 and a 52-week high of $9.30.
A number of hedge funds have recently bought and sold shares of the stock. Gamco Investors INC. ET AL raised its stake in The GDL Fund by 0.4% in the first quarter. Gamco Investors INC. ET AL now owns 398,668 shares of the investment management company’s stock valued at $3,429,000 after purchasing an additional 1,742 shares in the last quarter. Eudaimonia Partners LLC acquired a new position in The GDL Fund in the first quarter valued at about $242,000. UBS Group AG raised its stake in The GDL Fund by 18.4% in the first quarter. UBS Group AG now owns 17,440 shares of the investment management company’s stock valued at $150,000 after purchasing an additional 2,714 shares in the last quarter. Finally, Morgan Stanley raised its stake in The GDL Fund by 17.7% in the third quarter. Morgan Stanley now owns 197,442 shares of the investment management company’s stock valued at $1,773,000 after purchasing an additional 29,740 shares in the last quarter.
About The GDL Fund (Get Rating)
The GDL Fund is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in public equity markets across the globe. It invests in stocks of companies operating across diversified sectors. The fund invests in securities of companies involved in publicly announced mergers, takeovers, tender offers, and leveraged buyouts.
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