The GDL Fund (NYSE:GDL) Short Interest Update

The GDL Fund (NYSE:GDL) was the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totaling 4,713 shares, a decline of 37.5% from the April 15th total of 7,540 shares. Based on an average daily trading volume, of 6,814 shares, the short-interest ratio is presently 0.7 days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Focus Partners Wealth bought a new stake in The GDL Fund during the 4th quarter worth about $5,013,000. Gamco Investors INC. ET AL raised its holdings in 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 purchasing an additional 186,052 shares during the last quarter. Osaic Holdings Inc. raised its holdings in 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 purchasing an additional 35,251 shares during the last quarter. GatePass Capital LLC bought a new stake in The GDL Fund during the 4th quarter worth about $241,000. Finally, Evolve Private Wealth LLC bought a new stake in The GDL Fund during the 4th quarter worth about $164,000.

The GDL Fund Trading Down 0.6%

GDL opened at $8.47 on Friday. The firm’s fifty day moving average price is $8.42 and its two-hundred day moving average price is $8.47. The GDL Fund has a fifty-two week low of $8.15 and a fifty-two week high of $8.67.

The GDL Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Monday, June 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Monday, June 15th.

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.