The GDL Fund (NYSE:GDL) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of The GDL Fund (NYSE:GDL) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $8.47 and traded as high as $8.49. The GDL Fund shares last traded at $8.45, with a volume of 16,170 shares.

The GDL Fund Price Performance

The firm has a 50-day simple moving average of $8.44 and a two-hundred day simple moving average of $8.47.

The GDL Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th were given 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 bought and sold shares of the company. NewEdge Advisors LLC boosted its stake in shares of The GDL Fund by 2.0% during the 4th quarter. NewEdge Advisors LLC now owns 127,532 shares of the investment management company’s stock worth $1,080,000 after acquiring an additional 2,497 shares in the last quarter. Evolve Private Wealth LLC bought a new stake in shares of The GDL Fund during the 4th quarter worth about $164,000. Focus Partners Wealth bought a new stake in shares of The GDL Fund during the 4th quarter worth about $5,013,000. Closed End Fund Advisors Inc. bought a new stake in shares of The GDL Fund during the 4th quarter worth about $95,000. Finally, GatePass Capital LLC bought a new stake in shares of The GDL Fund during the 4th quarter worth about $241,000.

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.