The GDL Fund (NYSE:GDL) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

The GDL Fund (NYSE:GDL)’s share price passed above its 200-day moving average during trading on Monday . 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 $8.4350, with a volume of 4,791 shares changing hands.

The GDL Fund Stock Performance

The company has a 50 day moving average price of $8.44 and a 200 day moving average price of $8.46.

The GDL Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Monday, June 15th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.48 annualized dividend and a yield of 5.7%.

Institutional Trading of The GDL Fund

Several large investors have recently bought and sold shares of the company. Gamco Investors INC. ET AL raised its stake 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 worth $3,736,000 after buying an additional 186,052 shares during the last quarter. Private Advisor Group LLC grew its stake in The GDL Fund by 25.1% in the 1st 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. NewEdge Advisors LLC increased its holdings 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 acquiring an additional 1,840 shares in the last quarter. Focus Partners Wealth purchased a new position in The GDL Fund during the 4th quarter valued at about $5,013,000. Finally, Osaic Holdings Inc. raised its position in 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 worth $329,000 after acquiring an additional 35,251 shares during the last quarter.

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.