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

The GDL Fund (NYSE:GDL) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.45 and traded as high as $8.49. The GDL Fund shares last traded at $8.4050, with a volume of 15,035 shares traded.

The GDL Fund Trading Down 0.4%

The business has a 50-day moving average price of $8.47 and a 200-day moving average price of $8.45.

The GDL Fund Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 12th were issued a dividend of $0.12 per share. 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%.

Hedge Funds Weigh In On The GDL Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its holdings in shares of The GDL Fund by 1.5% during the first quarter. NewEdge Advisors LLC now owns 126,162 shares of the investment management company’s stock worth $1,039,000 after acquiring an additional 1,840 shares in the last quarter. Raymond James Financial Inc. acquired a new position in The GDL Fund in the 2nd quarter worth about $29,000. Matisse Capital purchased a new stake in shares of The GDL Fund during the 2nd quarter worth about $141,000. Osaic Holdings Inc. lifted 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 valued at $329,000 after buying an additional 35,251 shares during the last quarter. Finally, Park Avenue Securities LLC bought a new stake in shares of The GDL Fund in the 2nd quarter valued at approximately $715,000.

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.