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

The GDL Fund (NYSE:GDL)’s share price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $8.49 and traded as high as $8.49. The GDL Fund shares last traded at $8.2950, with a volume of 13,579 shares.

The GDL Fund Trading Down 0.5%

The firm’s fifty day moving average is $8.49 and its 200 day moving average is $8.49.

The GDL Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 5.8%. The ex-dividend date was Tuesday, March 17th.

Institutional Investors Weigh In On The GDL Fund

Hedge funds and other institutional investors have recently modified their holdings of the business. Focus Partners Wealth bought a new stake in shares of The GDL Fund during the 4th quarter worth approximately $5,013,000. Gamco Investors INC. ET AL grew its position in The GDL Fund by 73.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 441,040 shares of the investment management company’s stock valued at $3,736,000 after acquiring an additional 186,052 shares during the last quarter. Osaic Holdings Inc. grew its position 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 acquiring an additional 35,251 shares during the last quarter. GatePass Capital LLC purchased a new stake in The GDL Fund in the fourth quarter worth $241,000. Finally, Evolve Private Wealth LLC purchased a new stake in The GDL Fund in the fourth quarter worth $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.