The GDL Fund (NYSE:GDL – Get Free Report) announced a quarterly dividend on Wednesday, November 11th. Stockholders of record on Friday, December 11th will be paid a dividend of $0.12 per share by the investment management company on Friday, December 18th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date is Friday, December 11th.
The GDL Fund Price Performance
Shares of The GDL Fund stock opened at $8.28 on Thursday. The company’s 50-day moving average price is $8.35 and its 200-day moving average price is $8.43. The GDL Fund has a 12-month low of $8.01 and a 12-month high of $8.67.
Institutional Trading of The GDL Fund
Several institutional investors and hedge funds have recently bought and sold shares of the company. Park Avenue Securities LLC boosted its holdings in The GDL Fund by 2.6% in the 3rd quarter. Park Avenue Securities LLC now owns 84,771 shares of the investment management company’s stock valued at $707,000 after purchasing an additional 2,167 shares during the period. GatePass Capital LLC increased its holdings in shares of The GDL Fund by 87.1% in the first quarter. GatePass Capital LLC now owns 53,150 shares of the investment management company’s stock worth $443,000 after purchasing an additional 24,750 shares during the period. Private Advisor Group LLC purchased a new stake in shares of The GDL Fund in the third quarter worth $137,000. Finally, Uhlmann Price Securities LLC purchased a new stake in shares of The GDL Fund in the third quarter worth $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.
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