The GDL Fund (NYSE:GDL) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

The GDL Fund (NYSE:GDL) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.47 and traded as high as $8.47. The GDL Fund shares last traded at $8.36, with a volume of 17,883 shares trading hands.

The GDL Fund Stock Down 0.1%

The company has a 50 day moving average of $8.45 and a 200 day moving average of $8.47.

The GDL Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Tuesday, March 17th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its stake in shares of The GDL Fund by 1.5% in the 1st 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 during the last quarter. Focus Partners Wealth acquired a new stake in shares of The GDL Fund in the 4th quarter worth $5,013,000. Osaic Holdings Inc. increased its stake in shares of 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 worth $329,000 after acquiring an additional 35,251 shares during the last quarter. Evolve Private Wealth LLC acquired a new stake in shares of The GDL Fund in the 4th quarter worth $164,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of 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.