The GDL Fund (NYSE:GDL) Shares Cross Above 200 Day Moving Average – Should You Sell?

The GDL Fund (NYSE:GDL)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.44 and traded as high as $8.49. The GDL Fund shares last traded at $8.3750, with a volume of 8,467 shares.

The GDL Fund Stock Down 1.1%

The business’s 50 day moving average is $8.48 and its 200-day moving average is $8.44.

The GDL Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 12th were paid a $0.12 dividend. The ex-dividend date was Friday, December 12th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.7%.

Institutional Trading of The GDL Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its position in shares of 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 valued at $1,039,000 after acquiring an additional 1,840 shares during the period. Park Avenue Securities LLC acquired a new position in The GDL Fund during the 2nd quarter valued at $715,000. Osaic Holdings Inc. boosted its holdings in The GDL Fund by 840.5% in the 2nd 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 during the period. Matisse Capital acquired a new stake in The GDL Fund in the 2nd quarter worth $141,000. Finally, Raymond James Financial Inc. acquired a new stake in The GDL Fund in the 2nd quarter worth $29,000.

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.