The GDL Fund (NYSE:GDL – Get Free Report) shares rose 0.5% during trading on Friday. The company traded as high as $8.34 and last traded at $8.2750. 9,351 shares were traded during mid-day trading, a decline of 12% from the average session volume of 10,665 shares. The stock had previously closed at $8.23.
The GDL Fund Stock Performance
The firm has a 50-day moving average price of $8.35 and a two-hundred day moving average price of $8.43.
The GDL Fund Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 5.8%. The ex-dividend date was Wednesday, September 16th.
Institutional Trading of The GDL Fund
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC lifted its position in shares of The GDL Fund by 2.6% during the 3rd quarter. Park Avenue Securities LLC now owns 84,771 shares of the investment management company’s stock worth $707,000 after buying an additional 2,167 shares during the last quarter. GatePass Capital LLC boosted its holdings in shares of The GDL Fund by 87.1% in the 1st quarter. GatePass Capital LLC now owns 53,150 shares of the investment management company’s stock valued at $443,000 after buying an additional 24,750 shares in the last quarter. Private Advisor Group LLC grew its position in shares of 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 buying an additional 3,000 shares during the last quarter. Finally, Uhlmann Price Securities LLC purchased a new position in shares of The GDL Fund in the 3rd quarter valued at $90,000.
The GDL Fund Company Profile
The GDL Fund (NYSE:GDL) is a diversified, closed-end management investment company. The fund seeks to generate high current income, with capital appreciation as a secondary objective.
To pursue these objectives, The GDL Fund invests primarily in a diversified portfolio of debt securities, including below-investment-grade debt, senior secured loans and other credit-related instruments. Its holdings may include securities issued by companies and entities across a range of industries and geographic markets.
The fund is managed by Goldman Sachs Asset Management, L.P., an investment management firm that provides portfolio management and other investment services.
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