CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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GDL Fund (GDL)

Non U.S. Equity Funds - Global Equity

Data as of Dec. 7, 2018
Market Price $9.04 (+ $0.04)
NAV (Dec. 7, 2018) $11.02 (- $0.05)
Premium / Discount -17.97% (+0.73%)
Fund Info
Inception Jan. 25, 2007
Sponsor Gabelli Funds
Website www.gabelli.com/Templa...
Phone 800-422-3554
Objective: Absolute returns in various market conditions with low risk; merger arbitrage transactions and stubs, spin-offs, and liquidations
Related Indexes
Discount CEF/BDC Index
Capital & Leverage
Outstanding Shares 17,422,912
Total Assets (Reported: June 30, 2018) $344M
Estimated Managed Assets $311M
Net Assets $192M
Market Cap $158M
Purchases Turnover 232.85%
Sales Turnover 263.08%
Total Leverage 40.00%
Structural Leverage (out of total) 95.65%
Portfolio Leverage (out of total) 4.35%
Expense Ratio 3.69%
Non Lev Exp Ratio 1.20%
Rel Lev Cost 3.52%
Discount Data
Average Discount (3 Yr) -16.22%
Discount Low(3 Yr) -21.25%
Discount High(3 Yr) -11.51%
Discount Rel Range 33.72%
Comp Discount -7.66
Discount St Dev (1Yr) 1.34
Z-Stat (6mo) 0.81
Z-Stat (1Yr) -0.24
Z-Stat (3Yr) -0.94
Comp Z-Stat (6mo) 1.79
Comp Z-Stat (3Yr) -0.48
Distribution Data
Market Yield 4.42%
Income Yield 0.75%
Lev Adj NAV Yield 2.59%
Distribution Frequency Q
Current Distribution $0.100
Current Income $0.017
Ex-Date 12/6/18
Payable Date 12/14/18
Div Growth (3yr) -37.50%
Dividend Change -37.5% on 11/20/17
Expected Div 2/21/19
RoC (1yr) 71.00%
RoC (3yr) 51.03%
Tax Dividend Data 2017 2015 - 2017
Income 0% 5.7%
ST Gains 0% 24.6%
QDI 0% 5.5%
LT Gains 0% 29.3%
RoC 100% 40.4%
Volume & Liquidity
Average Daily $ (M) $321
Avg Volume 30 day 26,879
Avg Volume 90 day 35,557
Volume Trend -24.41%
Comp Volume Trend -20.93%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
Price Correlation (1yr)
vs. CEFA's International Equity Index
Most Correlated Peer (Mk Pr): BGY 69.0%
NAV - Price Correlation (30 d) -2.4%
NAV - Price Correlation (90 d) 70.6%
NAV - Price Correlation (1 Yr) 92.1%
Price St Dev (1Yr) 10.2%
NAV St Dev (1Yr) 5.8%
Earnings / Share (6/30/18) $-0.026
Earn Coverage 0.00%
Earnings Trend Up
UNII / Share (6/30/18) $-0.089
Rel UNII -130.59
UNII Trend Down
NAV Beta (2yr)
vs. S&P 500 (TR)
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
NAV Beta (2yr)
vs. CEFA's International Equity Index


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NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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