An Easy Way To Arbitrage Profits: The GDL Fund [Seeking Alpha]
GDL Fund, The Common Shares of Beneficial Interest (GDL)
US:NYSE Investor Relations:
gabelli.com/funds/products/-117.html
Company Research
Source: Seeking Alpha
Let me start with this caveat: investing in closed-end funds is mostly stupid. Few managers exhibit any investing skill. Their performance is often poor and fees are often high. One of their strong points is that they are great at building impermeable corporate defenses against shareholders asserting their rights. If closed-end fund investing is stupid, then investing in closed-end fund IPOs is the stupidest. These are simply wealth transfers from credulous retail investors, often yield-hungry seniors, and sleazy brokers willing to take advantage of them for a quick buck (or, more commonly, two per share). As described in Is The Market Fair? Yes Vs. No , the CEF IPO is an opportunity to lose 8% of your money quickly, then much of the rest slowly. They are useful for investors because they are the financial world's equivalent of a ski mask on a warm sunny day in that any broker caught with one has identified himself as a likely swindler. While I am a longtime skepti
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GDL
Sec Filings
- 4/3/24 - Form DEFR14A
- 3/28/24 - Form 4
- 3/21/24 - Form DEFA14A
- GDL's page on the SEC website