PNC Financial Services Group Inc. Buys 6,625 Shares of The Gabelli Dividend & Income Trust (NYSE:GDV)

PNC Financial Services Group Inc. raised its stake in The Gabelli Dividend & Income Trust (NYSE:GDV) by 17.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 44,625 shares of the financial services provider’s stock after purchasing an additional 6,625 shares during the quarter. PNC Financial Services Group Inc.’s holdings in The Gabelli Dividend & Income Trust were worth $1,091,000 at the end of the most recent quarter.

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

The Gabelli Dividend & Income Trust Stock Performance

Shares of NYSE:GDV opened at $25.30 on Thursday. The stock’s 50-day moving average is $24.54 and its 200 day moving average is $23.60. The Gabelli Dividend & Income Trust has a 1 year low of $20.20 and a 1 year high of $25.39.

The Gabelli Dividend & Income Trust Dividend Announcement

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 5.22%.

Insider Activity at The Gabelli Dividend & Income Trust

In related news, insider Mario J. Gabelli bought 3,131,500 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were purchased at an average price of $10.00 per share, with a total value of $31,315,000.00. Following the purchase, the insider now owns 3,131,500 shares of the company’s stock, valued at approximately $31,315,000. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired a total of 3,134,000 shares of company stock worth $31,369,800 over the last quarter.

The Gabelli Dividend & Income Trust 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.