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

The GDL Fund (NYSE:GDL) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.48 and traded as high as $8.53. The GDL Fund shares last traded at $8.49, with a volume of 3,347 shares.

The GDL Fund Trading Down 0.1%

The company has a 50-day simple moving average of $8.48 and a two-hundred day simple moving average of $8.48.

The GDL Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, March 17th.

Institutional Trading of The GDL Fund

A number of hedge funds have recently modified their holdings of GDL. Raymond James Financial Inc. bought a new position in shares of The GDL Fund in the 2nd quarter worth about $29,000. Closed End Fund Advisors Inc. purchased a new stake in The GDL Fund in the fourth quarter worth about $95,000. Evolve Private Wealth LLC bought a new position in shares of The GDL Fund during the fourth quarter valued at approximately $164,000. GatePass Capital LLC purchased a new position in shares of The GDL Fund during the fourth quarter valued at approximately $241,000. Finally, Osaic Holdings Inc. lifted its holdings in shares of 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 valued at $329,000 after purchasing an additional 35,251 shares during the last quarter.

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.