The GDL Fund (NYSE:GDL) Shares Cross Above Two Hundred Day Moving Average – Should You Sell?

The GDL Fund (NYSE:GDL) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.49 and traded as high as $8.58. The GDL Fund shares last traded at $8.58, with a volume of 14,167 shares changing hands.

The GDL Fund Stock Performance

The firm has a 50 day simple moving average of $8.49 and a 200-day simple moving average of $8.49.

The GDL Fund Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 5.6%. The ex-dividend date is Tuesday, March 17th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC lifted its holdings in shares of The GDL Fund by 2.0% in the 4th quarter. NewEdge Advisors LLC now owns 127,532 shares of the investment management company’s stock worth $1,080,000 after acquiring an additional 2,497 shares during the last quarter. Focus Partners Wealth purchased a new stake in The GDL Fund in the fourth quarter valued at approximately $5,013,000. Evolve Private Wealth LLC acquired a new position in The GDL Fund during the fourth quarter worth $164,000. Closed End Fund Advisors Inc. purchased a new position in shares of The GDL Fund during the fourth quarter worth $95,000. Finally, Osaic Holdings Inc. grew 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 valued at $329,000 after buying an additional 35,251 shares in 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.