Short Interest in The Gabelli Dividend & Income Trust (NYSE:GDV) Grows By 70.8%

The Gabelli Dividend & Income Trust (NYSE:GDV) was the target of a significant increase in short interest in the month of February. As of February 15th, there was short interest totalling 28,700 shares, an increase of 70.8% from the January 31st total of 16,800 shares. Based on an average daily trading volume, of 138,300 shares, the short-interest ratio is presently 0.2 days.

Insider Activity at The Gabelli Dividend & Income Trust

In other news, insider Mario J. Gabelli bought 2,300 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were purchased at an average cost of $24.83 per share, with a total value of $57,109.00. Following the acquisition, the insider now directly owns 145,812 shares in the company, valued at $3,620,511.96. This represents a 1.60 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On The Gabelli Dividend & Income Trust

Hedge funds and other institutional investors have recently modified their holdings of the business. MML Investors Services LLC boosted 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 buying an additional 488 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new position in shares of The Gabelli Dividend & Income Trust in the fourth quarter worth about $278,000. HighTower Advisors LLC boosted its stake in shares of The Gabelli Dividend & Income Trust by 6.2% in the 3rd quarter. HighTower Advisors LLC now owns 94,799 shares of the financial services provider’s stock valued at $2,320,000 after purchasing an additional 5,541 shares in the last quarter. Wolverine Asset Management LLC grew its holdings in shares of The Gabelli Dividend & Income Trust by 9.6% during the 3rd quarter. Wolverine Asset Management LLC now owns 158,151 shares of the financial services provider’s stock valued at $3,867,000 after purchasing an additional 13,834 shares during the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in The Gabelli Dividend & Income Trust during the 3rd quarter worth approximately $3,138,000.

The Gabelli Dividend & Income Trust Stock Performance

Shares of NYSE GDV traded down $0.37 during trading hours on Tuesday, hitting $24.22. 78,161 shares of the stock were exchanged, compared to its average volume of 130,846. The company’s fifty day simple moving average is $24.74 and its two-hundred day simple moving average is $24.54. The Gabelli Dividend & Income Trust has a 1-year low of $21.44 and a 1-year high of $25.67.

The Gabelli Dividend & Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 23rd. Shareholders of record on Friday, June 13th will be issued a $0.14 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date is Friday, June 13th.

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.