Short Interest in The GDL Fund (NYSE:GDL) Decreases By 37.3%

The GDL Fund (NYSE:GDL) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 7,867 shares, a decrease of 37.3% from the July 15th total of 12,554 shares. Based on an average trading volume of 6,233 shares, the short-interest ratio is currently 1.3 days.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in shares of The GDL Fund during the 2nd quarter worth $29,000. Closed End Fund Advisors Inc. bought a new stake in The GDL Fund in the fourth quarter worth about $95,000. Private Advisor Group LLC boosted its stake in The GDL Fund by 25.1% in the first quarter. Private Advisor Group LLC now owns 14,970 shares of the investment management company’s stock valued at $125,000 after acquiring an additional 3,000 shares during the last quarter. Evolve Private Wealth LLC purchased a new position in The GDL Fund in the fourth quarter valued at about $164,000. Finally, GatePass Capital LLC purchased a new position in The GDL Fund in the fourth quarter valued at about $241,000.

The GDL Fund Trading Down 0.1%

Shares of NYSE GDL opened at $8.41 on Thursday. The company has a 50-day moving average price of $8.43 and a 200-day moving average price of $8.45. The GDL Fund has a 1 year low of $8.24 and a 1 year high of $8.67.

The GDL Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be paid 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 is Wednesday, September 16th.

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.