The GDL Fund Announces Quarterly Dividend of $0.12 (NYSE:GDL)

The GDL Fund (NYSE:GDL) declared a quarterly dividend on Wednesday, May 13th. Investors of record on Monday, June 15th will be paid a dividend of 0.12 per share by the investment management company on Tuesday, June 23rd. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Monday, June 15th.

The GDL Fund Price Performance

The GDL Fund stock opened at $8.48 on Thursday. The company’s 50-day moving average price is $8.42 and its two-hundred day moving average price is $8.47. The GDL Fund has a twelve month low of $8.15 and a twelve month high of $8.67.

Institutional Trading of The GDL Fund

Several hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its position in 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 during the period. Private Advisor Group LLC raised its position in shares of 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 in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of The GDL Fund in the second quarter valued at approximately $29,000. Closed End Fund Advisors Inc. bought a new stake in shares of The GDL Fund in the fourth quarter valued at approximately $95,000. Finally, Evolve Private Wealth LLC bought a new position in The GDL Fund during the 4th 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.