The GDL Fund (NYSE:GDL) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

The GDL Fund (NYSE:GDL) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.46 and traded as high as $8.47. The GDL Fund shares last traded at $8.4250, with a volume of 15,983 shares changing hands.

The GDL Fund Trading Down 0.1%

The stock has a fifty day simple moving average of $8.46 and a two-hundred day simple moving average of $8.46.

The GDL Fund Announces Dividend

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

Institutional Investors Weigh In On The GDL Fund

Several large investors have recently added to or reduced their stakes in GDL. Focus Partners Wealth bought a new stake in The GDL Fund in the fourth quarter worth approximately $5,013,000. Gamco Investors INC. ET AL boosted its holdings in shares of The GDL Fund by 73.0% during the 4th quarter. Gamco Investors INC. ET AL now owns 441,040 shares of the investment management company’s stock worth $3,736,000 after buying an additional 186,052 shares in the last quarter. Osaic Holdings Inc. boosted its holdings in shares of The GDL Fund by 840.5% during the 2nd quarter. Osaic Holdings Inc. now owns 39,445 shares of the investment management company’s stock worth $329,000 after buying an additional 35,251 shares in the last quarter. GatePass Capital LLC acquired a new stake in shares of The GDL Fund during the 4th quarter worth approximately $241,000. Finally, Evolve Private Wealth LLC acquired a new stake in shares of The GDL Fund during the 4th quarter worth approximately $164,000.

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.