626,000 Shares in The Gabelli Dividend & Income Trust (NYSE:GDV) Acquired by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in The Gabelli Dividend & Income Trust (NYSE:GDV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 626,000 shares of the financial services provider’s stock, valued at approximately $15,118,000. The Gabelli Dividend & Income Trust comprises about 2.6% of GABELLI & Co INVESTMENT ADVISERS INC.’s holdings, making the stock its 8th largest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC increased its stake in The Gabelli Dividend & Income Trust by 2.4% in the 4th quarter. DAVENPORT & Co LLC now owns 16,788 shares of the financial services provider’s stock worth $405,000 after purchasing an additional 400 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of The Gabelli Dividend & Income Trust by 75.6% in the fourth quarter. Russell Investments Group Ltd. now owns 1,103 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 475 shares during the last quarter. MML Investors Services LLC increased its stake in shares of 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 worth $347,000 after buying an additional 488 shares during the period. Integrated Capital Management Inc. raised its holdings in The Gabelli Dividend & Income Trust by 3.8% during the 4th quarter. Integrated Capital Management Inc. now owns 15,656 shares of the financial services provider’s stock valued at $378,000 after buying an additional 576 shares during the last quarter. Finally, Level Four Advisory Services LLC raised its holdings in The Gabelli Dividend & Income Trust by 8.4% during the 4th quarter. Level Four Advisory Services LLC now owns 13,287 shares of the financial services provider’s stock valued at $321,000 after buying an additional 1,025 shares during the last quarter.

Insiders Place Their Bets

In related news, insider Mario J. Gabelli purchased 2,300 shares of The Gabelli Dividend & Income Trust stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $24.83 per share, for a total transaction of $57,109.00. Following the completion of the transaction, the insider now directly owns 145,812 shares of the company’s stock, valued at $3,620,511.96. This represents a 1.60 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

The Gabelli Dividend & Income Trust Price Performance

Shares of The Gabelli Dividend & Income Trust stock opened at $22.72 on Tuesday. The company’s fifty day simple moving average is $24.02 and its two-hundred day simple moving average is $24.45. The Gabelli Dividend & Income Trust has a 12-month low of $20.10 and a 12-month high of $25.67.

The Gabelli Dividend & Income Trust Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Tuesday, April 15th.

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.