Results of GDL Pfd B Rights Offering

The GDL Pfd B shares were issued. For shareholders who owned GDL pfd A prior to the offering there was an opportunity to oversubscribe, but the oversubscription amounts were a bit of a disappointment.

In one account, I subscribed for 1000 shares and oversubscribed for another 2000 shares at $50. But I only received an extra 119 shares with the oversubscription request.

GDL Pfd B opened up around 51.75 and is currently trading a little above $52. Mario Gabelli owns about $31 million of this issue with his personal family money.

Here is a seeking alpha artice I wrote on GDL pfdB- http://seekingalpha.com/article/262025-gdl-fund-preferred-b-good-investment-for-the-risk-averse

Another recent article on Seeking Alpha on JTP, a preferred share CEF:

http://seekingalpha.com/article/263821-jtp-worthwhile-preferred-closed-end-fund-which-may-soon-raise-its-dividend

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