The Gabelli Dividend & Income Trust (NYSE:GDV) Sees Significant Decline in Short Interest

The Gabelli Dividend & Income Trust (NYSE:GDV) was the recipient of a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 19,000 shares, a decline of 32.6% from the November 15th total of 28,200 shares. Based on an average daily volume of 142,800 shares, the days-to-cover ratio is presently 0.1 days.

The Gabelli Dividend & Income Trust Trading Up 0.1 %

Shares of NYSE GDV traded up $0.03 during trading hours on Friday, hitting $24.97. The company had a trading volume of 46,869 shares, compared to its average volume of 161,520. The firm’s 50 day moving average is $24.80 and its 200-day moving average is $23.81. The Gabelli Dividend & Income Trust has a 1-year low of $20.93 and a 1-year high of $25.67.

The Gabelli Dividend & Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.32 annualized dividend and a dividend yield of 5.29%.

Insider Buying and Selling at The Gabelli Dividend & Income Trust

In other news, insider Mario J. Gabelli purchased 2,000 shares of The Gabelli Dividend & Income Trust stock in a transaction dated Tuesday, October 15th. The shares were bought at an average cost of $24.90 per share, with a total value of $49,800.00. Following the completion of the transaction, the insider now directly owns 10,000 shares in the company, valued at $249,000. This trade represents a 25.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders acquired 3,134,000 shares of company stock worth $31,369,800.

Hedge Funds Weigh In On The Gabelli Dividend & Income Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GDV. Wilmington Savings Fund Society FSB bought a new stake in The Gabelli Dividend & Income Trust during the 3rd quarter worth $180,000. Sanctuary Advisors LLC increased its position in shares of The Gabelli Dividend & Income Trust by 5.8% during the third quarter. Sanctuary Advisors LLC now owns 154,454 shares of the financial services provider’s stock valued at $3,863,000 after acquiring an additional 8,457 shares during the last quarter. TD Private Client Wealth LLC purchased a new stake in The Gabelli Dividend & Income Trust during the third quarter worth about $78,000. MML Investors Services LLC lifted its stake in The Gabelli Dividend & Income Trust by 3.6% in the third quarter. MML Investors Services LLC now owns 14,212 shares of the financial services provider’s stock valued at $347,000 after purchasing an additional 488 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of The Gabelli Dividend & Income Trust by 6.2% in the third quarter. HighTower Advisors LLC now owns 94,799 shares of the financial services provider’s stock valued at $2,320,000 after buying an additional 5,541 shares during the period.

About The Gabelli Dividend & Income Trust

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.