The GDL Fund (NYSE:GDL) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

The GDL Fund (NYSE:GDL)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.44 and traded as high as $8.47. The GDL Fund shares last traded at $8.47, with a volume of 5,443 shares.

The GDL Fund Stock Up 0.1%

The company has a 50 day moving average price of $8.49 and a two-hundred day moving average price of $8.44.

The GDL Fund Announces Dividend

The business also recently announced 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 5.7%.

Institutional Investors Weigh In On The GDL Fund

A number of large investors have recently added to or reduced their stakes in GDL. NewEdge Advisors LLC raised its stake in 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 valued at $1,039,000 after buying an additional 1,840 shares during the last quarter. Raymond James Financial Inc. bought a new position in The GDL Fund in the 2nd quarter worth $29,000. Matisse Capital bought a new stake in The GDL Fund during the second quarter valued at about $141,000. Osaic Holdings Inc. boosted its stake in shares of The GDL Fund by 840.5% in the second quarter. Osaic Holdings Inc. now owns 39,445 shares of the investment management company’s stock worth $329,000 after acquiring an additional 35,251 shares during the period. Finally, Park Avenue Securities LLC bought a new stake in The GDL Fund during the 2nd quarter valued at approximately $715,000.

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.