Welcome to our dedicated page for The GDL Fund news (Ticker: GDL), a resource for investors and traders seeking the latest updates and insights on The GDL Fund stock.
The GDL Fund (symbol: GDL) is a diversified closed-end management investment company that is committed to achieving absolute returns in all market conditions without taking on excessive risk. The fund predominantly invests in merger arbitrage transactions and is also involved in corporate reorganizations including stubs, spin-offs, and liquidations. This strategic approach enables the fund to generate returns while mitigating risks commonly associated with volatile market conditions.
Founded under the umbrella of GAMCO Investors, Inc. (NYSE: GBL), a leader in investment advisory services, The GDL Fund benefits from GAMCO’s extensive research-driven approach and proprietary Private Market Value (PMV) with a Catalyst™ stock selection strategy. GAMCO's legacy dates back to 1977, founded by Mario J. Gabelli, and has garnered recognition for its substantial expertise in equity investing.
As of December 31, 2016, GAMCO Investors, Inc. managed assets worth $39.7 billion, with 95% invested in equities. This robust asset management is conducted through its registered investment advisors, GAMCO Asset Management Inc. and Gabelli Funds, LLC. The firm's operational strength is further bolstered by G.distributors, LLC, which acts as an underwriter and distributor for its open-end funds.
In recent times, The GDL Fund has adeptly navigated through various market conditions, continuously exploring strategic acquisitions and transactional opportunities to maximize shareholder value. By focusing on specific investment niches, such as merger arbitrage, the fund has carved out a unique position in the investment landscape, promising growth and stability for its investors.
For those looking to stay updated on the latest advancements, financial results, and strategic moves from The GDL Fund, the company's investor relations team, led by Laurissa Martire, is available for queries and detailed information.
The GDL Fund (NYSE:GDL) has declared a cash distribution of
GAMCO Investors reported strong Q1 2022 results, with a net income of $17.5 million, up $1.5 million year-over-year. GAAP earnings per share increased to $0.66 from $0.59 in Q1 2021. Revenues rose to $69.6 million, driven by growth in investment advisory fees. GAMCO ended the quarter with $131.5 million in cash and investments. The firm continued its commitment to ESG initiatives and launched new semi-transparent ETFs focused on sustainability and automation. Additionally, shareholders have designated $48 million in charitable contributions since 2013, showcasing corporate responsibility.
The GDL Fund (NYSE:GDL) has announced the issuance of 3,500,000 Series E Cumulative Term Preferred Shares with a liquidation value of $10 each, totaling $35 million. These shares have a mandatory redemption date of March 26, 2025, and are callable starting March 26, 2024. Distributions will be 4.00% until March 26, 2023, and 4.25% thereafter, paid quarterly from June 26, 2022. The Fund, managed by Gabelli Funds, LLC, aims for absolute returns while managing risk, with total net assets of $212 million.
The GDL Fund (NYSE:GDL) has announced a cash distribution of $0.12 per share for common shareholders, payable on March 24, 2022, with a record date of March 17, 2022. The Board of Trustees will monitor distribution levels based on net asset value and market conditions. Distributions may include a return of capital, not subject to taxation, which will be detailed to shareholders in early 2023 via Form 1099-DIV. The GDL Fund, managed by Gabelli Funds, has total net assets of $179 million and aims for absolute returns while minimizing capital risk.
The GDL Fund (NYSE:GDL) announced a cash distribution of $0.12 per share, payable on December 17, 2021, to shareholders of record as of December 10, 2021. The Fund emphasizes that this distribution rate should not be viewed as a definitive yield or total return. It may include return of capital components, which reduce shareholders' cost basis. The Fund's distributions will vary and depend on various factors, including investment income and capital gains.
As of now, the GDL Fund holds $182 million in total net assets, aiming for absolute returns while minimizing capital risk.
The GDL Fund (NYSE:GDL) has announced a cash distribution of $0.12 per share, payable on September 23, 2021, to shareholders of record as of September 16, 2021. The Board of Trustees will continue to assess the Fund's distribution levels based on net asset value and market conditions. The Fund's distributions comprise realized net long-term capital gains and investment company taxable income, with a portion potentially considered a return of capital. In 2021, approximately 27% of distributions are from net capital gains, while 73% is deemed a return of capital.
The GDL Fund (NYSE:GDL) has declared a cash distribution of $0.12 per share, payable on June 23, 2021, to shareholders of record as of June 16, 2021. The Board of Trustees monitors distribution levels, which may fluctuate based on the Fund's net asset value and market conditions. The Fund's annual distributions come from long-term capital gains and taxable income. In 2021, approximately 21% of distributions will be from net capital gains, with 79% deemed a return of capital, which generally reduces the shareholder's cost basis.
The GDL Fund (NYSE:GDL) announced it will maintain the annual dividend rate of 4.00% for its Series C Preferred Shares, effective for all quarterly periods until the mandatory redemption date of March 26, 2025. This dividend will be distributed quarterly, based on the $50.00 per share liquidation preference. Investors should note that part of these distributions may qualify as taxable income, impacting individual tax rates. The Fund, managed by Gabelli Funds, LLC, has total net assets of $186 million.
The GDL Fund (NYSE:GDL) announced a cash distribution of $0.12 per share to be paid on March 24, 2021, to shareholders on record as of March 17, 2021. The Board of Trustees will continue to evaluate the distribution rate based on the Fund’s net asset value and market conditions. Approximately 18% of the total distribution is expected to be from net capital gains, while 82% will be considered a return of capital. The Fund has $187 million in total net assets and aims for absolute returns with mindful risk management.
The GDL Fund (NYSE:GDL) announced a cash distribution of $0.12 per share, payable on December 18, 2020, to shareholders of record as of December 11, 2020. The Board of Trustees will monitor the Fund's distribution level based on its net asset value and market conditions. Distributions may include a return of capital, and shareholders are informed that current quarterly distributions may fluctuate. The Fund aims to achieve absolute returns while managing risk, reporting total net assets of $187 million.
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