The GDL Fund (NYSE:GDL) is expected to pay $0.16 on Sep 23, 2016. The indicated annual dividend is $0.64. Shareholders owning the stock before Sep 14, 2016 will be eligible to receive the payout. Based on The GDL Fund’s current price of $9.99, the dividend is 1.60%. This dividend’s record date is Sep 16, 2016 and the announcement date is Aug 18, 2016. About 12,625 shares traded hands. GDL Fund (NYSE:GDL) has risen 2.45% since February 8, 2016 and is uptrending. It has underperformed by 14.03% the S&P500.
The GDL Fund is a diversified closed-end management investment fund. The company has a market cap of $189.79 million. The Fund’s primary investment objective is to achieve absolute returns in various market conditions without excessive risk of capital. It currently has negative earnings. The Fund will seek to achieve its objective by investing in merger arbitrage transactions and, to a lesser extent, in corporate reorganizations involving stubs, spin-offs and liquidations.
The institutional sentiment is 1.4 in 2016 Q2. Its the same as in 2016Q1. The ratio is flat, as 1 funds sold all GDL Fund shares owned while 14 reduced positions. only 4 funds bought stakes while 17 increased positions. They now own 8.61 million shares or 1.49% less from 8.75 million shares in 2016Q1.
Glacier Peak Capital Llc holds 8.55% of its portfolio in GDL Fund for 812,243 shares. Gabelli Securities Inc. owns 1.40 million shares or 1.8% of their US portfolio. Moreover, Cornerstone Advisors Inc has 0.65% invested in the company for 265,518 shares. The Michigan-based Financial & Investment Management Group Ltd has invested 0.55% in the stock. Punch & Associates Investment Management Inc., a Minnesota-based fund reported 399,632 shares.
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