The Gabelli Dividend & Income Trust (NYSE:GDV) Sees Large Growth in Short Interest

The Gabelli Dividend & Income Trust (NYSE:GDV) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 28,200 shares, an increase of 16.0% from the October 31st total of 24,300 shares. Based on an average daily trading volume, of 154,600 shares, the short-interest ratio is currently 0.2 days.

Insider Activity

In other news, insider Mario J. Gabelli bought 2,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was acquired at an average price of $24.90 per share, with a total value of $49,800.00. Following the completion of the purchase, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $249,000. This represents a 25.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders purchased 3,134,000 shares of company stock valued at $31,369,800.

Hedge Funds Weigh In On The Gabelli Dividend & Income Trust

Several institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC bought a new stake in shares of The Gabelli Dividend & Income Trust in the 2nd quarter valued at $27,000. Wetzel Investment Advisors Inc. acquired a new stake in The Gabelli Dividend & Income Trust in the second quarter worth $71,000. TD Private Client Wealth LLC bought a new stake in The Gabelli Dividend & Income Trust in the third quarter valued at $78,000. CWM LLC increased its stake in The Gabelli Dividend & Income Trust by 11.6% in the third quarter. CWM LLC now owns 5,227 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 545 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of The Gabelli Dividend & Income Trust during the third quarter valued at about $180,000.

The Gabelli Dividend & Income Trust Stock Performance

The Gabelli Dividend & Income Trust stock traded down $0.09 during trading hours on Tuesday, reaching $25.49. 142,077 shares of the company’s stock were exchanged, compared to its average volume of 162,427. The firm’s 50 day simple moving average is $24.63 and its 200 day simple moving average is $23.68. The Gabelli Dividend & Income Trust has a twelve month low of $20.23 and a twelve month high of $25.60.

The Gabelli Dividend & Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be issued a $0.11 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.32 dividend on an annualized basis and a yield of 5.18%.

The Gabelli Dividend & Income Trust Company Profile

The Gabelli Dividend & Income Trust is a closed ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in dividend paying stocks of companies.