The GDL Fund (NYSE:GDL) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

The GDL Fund (NYSE:GDL)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.45 and traded as high as $8.46. The GDL Fund shares last traded at $8.4050, with a volume of 6,674 shares changing hands.

The GDL Fund Stock Performance

The business’s 50-day moving average price is $8.45 and its two-hundred day moving average price is $8.45.

The GDL Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Monday, June 15th.

Institutional Investors Weigh In On The GDL Fund

Several hedge funds and other institutional investors have recently modified their holdings of GDL. NewEdge Advisors LLC lifted its position 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 purchasing an additional 1,840 shares during the last quarter. Private Advisor Group LLC increased its holdings in The GDL Fund by 25.1% in the first quarter. Private Advisor Group LLC now owns 14,970 shares of the investment management company’s stock valued at $125,000 after buying an additional 3,000 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in The GDL Fund during the second quarter valued at approximately $29,000. Closed End Fund Advisors Inc. acquired a new stake in The GDL Fund during the fourth quarter valued at approximately $95,000. Finally, Evolve Private Wealth LLC acquired a new stake in The GDL Fund during the fourth quarter valued at approximately $164,000.

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.