The GDL Fund (NYSE:GDL) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

The GDL Fund (NYSE:GDL)’s stock price 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 $8.65. The GDL Fund shares last traded at $8.5990, with a volume of 34,255 shares traded.

The GDL Fund Trading Up 1.0%

The business has a fifty day moving average price of $8.47 and a 200 day moving average price of $8.46.

The GDL Fund Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 12th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, December 12th. This represents a $0.48 annualized dividend and a yield of 5.6%.

Hedge Funds Weigh In On The GDL Fund

Several hedge funds and other institutional investors have recently modified their holdings of GDL. NewEdge Advisors LLC grew its holdings in shares of The GDL Fund by 1.5% during the 1st 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 period. Osaic Holdings Inc. grew its stake in The GDL Fund by 840.5% during the second 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 during the period. Raymond James Financial Inc. purchased a new stake in The GDL Fund during the second quarter worth approximately $29,000. Finally, Matisse Capital acquired a new stake in shares of The GDL Fund in the second quarter worth $141,000.

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.