Insider Buying: The Gabelli Dividend & Income Trust (NYSE:GDV) Insider Buys 3,131,500 Shares of Stock

The Gabelli Dividend & Income Trust (NYSE:GDV) insider Mario J. Gabelli acquired 3,131,500 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was purchased at an average cost of $10.00 per share, with a total value of $31,315,000.00. Following the acquisition, the insider now directly owns 3,131,500 shares of the company’s stock, valued at $31,315,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

The Gabelli Dividend & Income Trust Trading Down 0.6 %

Shares of GDV traded down $0.16 during mid-day trading on Tuesday, reaching $24.70. The stock had a trading volume of 115,387 shares, compared to its average volume of 167,554. The Gabelli Dividend & Income Trust has a 52-week low of $18.04 and a 52-week high of $24.99. The business’s fifty day moving average is $23.87 and its 200 day moving average is $23.07.

The Gabelli Dividend & Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Thursday, November 21st. Investors of record on Thursday, November 14th will be issued a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.34%. The ex-dividend date is Thursday, November 14th.

Institutional Investors Weigh In On The Gabelli Dividend & Income Trust

A number of hedge funds have recently modified their holdings of GDV. Larson Financial Group LLC acquired a new position in The Gabelli Dividend & Income Trust in the second quarter valued at about $27,000. Bessemer Group Inc. acquired a new position in The Gabelli Dividend & Income Trust in the first quarter valued at about $33,000. Wetzel Investment Advisors Inc. acquired a new position in The Gabelli Dividend & Income Trust in the second quarter valued at about $71,000. CWM LLC lifted its position 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 buying an additional 545 shares during the last quarter. Finally, Private Wealth Advisors LLC acquired a new position in The Gabelli Dividend & Income Trust in the first quarter valued at about $203,000.

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.