The GDL Fund (NYSE:GDL) Short Interest Update

The GDL Fund (NYSE:GDL) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 2,677 shares, a decline of 43.2% from the April 30th total of 4,713 shares. Based on an average daily volume of 7,039 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Investors Weigh In On The GDL Fund

Several large investors have recently modified their holdings of the company. Focus Partners Wealth purchased a new position in shares of The GDL Fund during the fourth quarter worth about $5,013,000. Gamco Investors INC. ET AL grew its position in The GDL Fund by 73.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 441,040 shares of the investment management company’s stock valued at $3,736,000 after buying an additional 186,052 shares during the last quarter. Osaic Holdings Inc. increased its stake in The GDL Fund by 840.5% in the 2nd 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 during the period. GatePass Capital LLC purchased a new position in The GDL Fund during the 4th quarter worth $241,000. Finally, Evolve Private Wealth LLC purchased a new position in The GDL Fund during the 4th quarter worth $164,000.

The GDL Fund Stock Performance

GDL traded up $0.01 on Thursday, reaching $8.46. The company’s stock had a trading volume of 9,010 shares, compared to its average volume of 9,716. The GDL Fund has a fifty-two week low of $8.15 and a fifty-two week high of $8.67. The stock has a 50 day moving average of $8.43 and a two-hundred day moving average of $8.47.

The GDL Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th will be issued a $0.12 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.48 annualized dividend and a dividend yield of 5.7%.

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.