GDL Fund to Issue Quarterly Dividend of $0.16 (GDL)
GDL Fund (NYSE:GDL) declared a quarterly dividend on Friday, August 25th, Zacks reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.16 per share by the investment management company on Friday, September 22nd. This represents a $0.64 annualized dividend and a dividend yield of 6.25%. The ex-dividend date is Thursday, September 14th.
GDL Fund has decreased its dividend by an average of 20.6% annually over the last three years.
Shares of GDL Fund (NYSE:GDL) traded down 0.39% on Friday, hitting $10.24. 11,152 shares of the stock traded hands. GDL Fund has a 52 week low of $9.55 and a 52 week high of $10.38. The firm’s 50 day moving average is $10.23 and its 200 day moving average is $10.09.
In other GDL Fund news, insider Mario J. Gabelli acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were acquired at an average price of $10.30 per share, with a total value of $41,200.00. Following the completion of the transaction, the insider now directly owns 197,059 shares in the company, valued at approximately $2,029,707.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
GDL Fund Company Profile
The GDL Fund (the Fund) is a diversified closed-end management investment fund. The Fund’s primary investment objective is to achieve absolute returns in various market conditions without excessive risk of capital. The Fund will seek to achieve its objective by investing primarily in merger arbitrage transactions and, to a lesser extent, in corporate reorganizations involving stubs, spin-offs, and liquidations.
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