Advisors Asset Management Inc. Cuts Position in The Gabelli Dividend & Income Trust (NYSE:GDV)

Advisors Asset Management Inc. trimmed its position in shares of The Gabelli Dividend & Income Trust (NYSE:GDV) by 2.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 478,008 shares of the financial services provider’s stock after selling 12,894 shares during the quarter. Advisors Asset Management Inc.’s holdings in The Gabelli Dividend & Income Trust were worth $11,687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of The Gabelli Dividend & Income Trust by 2,345.0% during the 3rd quarter. International Assets Investment Management LLC now owns 352,080 shares of the financial services provider’s stock worth $8,608,000 after purchasing an additional 337,680 shares during the period. Cornerstone Advisors LLC increased its position in shares of The Gabelli Dividend & Income Trust by 17.0% during the second quarter. Cornerstone Advisors LLC now owns 1,649,457 shares of the financial services provider’s stock worth $37,459,000 after acquiring an additional 239,758 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of The Gabelli Dividend & Income Trust in the 2nd quarter valued at approximately $3,212,000. Private Advisor Group LLC raised its holdings in The Gabelli Dividend & Income Trust by 746.7% in the second quarter. Private Advisor Group LLC now owns 163,406 shares of the financial services provider’s stock valued at $3,711,000 after acquiring an additional 144,107 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new stake in shares of The Gabelli Dividend & Income Trust in the 1st quarter valued at about $1,664,000.

Insider Activity

In other news, insider Mario J. Gabelli purchased 3,131,500 shares of the stock in a transaction dated Friday, October 11th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $31,315,000.00. Following the transaction, the insider now owns 3,131,500 shares in the company, valued at $31,315,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have acquired 3,134,000 shares of company stock valued at $31,369,800.

The Gabelli Dividend & Income Trust Price Performance

GDV stock opened at $24.61 on Wednesday. The stock’s 50 day simple moving average is $24.42 and its 200 day simple moving average is $23.51. The Gabelli Dividend & Income Trust has a 12-month low of $19.68 and a 12-month high of $25.33.

The Gabelli Dividend & Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be given a $0.11 dividend. This represents a $1.32 annualized dividend and a yield of 5.36%. The ex-dividend date is Monday, March 17th.

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.