The GDL Fund (NYSE:GDL) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of The GDL Fund (NYSE:GDL) passed 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 trading hands.

The GDL Fund Stock Down 0.1%

The stock’s 50 day simple moving average is $8.46 and its two-hundred day simple moving average is $8.46.

The GDL Fund Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 5.7%.

Institutional Trading of The GDL Fund

Large investors have recently added to or reduced their stakes in the stock. Focus Partners Wealth acquired a new stake in shares of The GDL Fund in the 4th quarter worth $5,013,000. Gamco Investors INC. ET AL boosted its position 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 valued at $3,736,000 after acquiring an additional 186,052 shares during the last quarter. Osaic Holdings Inc. boosted its position 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 valued at $329,000 after acquiring an additional 35,251 shares during the last quarter. GatePass Capital LLC purchased a new stake in shares of The GDL Fund in the fourth quarter valued at about $241,000. Finally, Evolve Private Wealth LLC purchased a new stake in shares of The GDL Fund in the fourth quarter valued at about $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.