Insider Buying: The Gabelli Dividend & Income Trust (NYSE:GDV) Insider Purchases 3,600,000 Shares of Stock

The Gabelli Dividend & Income Trust (NYSE:GDV) insider Mario Gabelli purchased 3,600,000 shares of the firm’s stock in a transaction on Friday, December 26th. The stock was acquired at an average price of $10.00 per share, with a total value of $36,000,000.00. Following the completion of the purchase, the insider owned 3,600,000 shares of the company’s stock, valued at $36,000,000. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

The Gabelli Dividend & Income Trust Stock Down 0.1%

NYSE:GDV traded down $0.04 during trading hours on Wednesday, hitting $27.80. 131,408 shares of the company were exchanged, compared to its average volume of 132,384. The Gabelli Dividend & Income Trust has a 52-week low of $20.10 and a 52-week high of $27.93. The company’s 50 day moving average price is $27.16 and its 200-day moving average price is $26.77.

The Gabelli Dividend & Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 17th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, March 17th. This represents a c) dividend on an annualized basis and a dividend yield of 6.5%.

Institutional Investors Weigh In On The Gabelli Dividend & Income Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in GDV. Community Bank N.A. acquired a new position in The Gabelli Dividend & Income Trust in the third quarter valued at approximately $27,000. Larson Financial Group LLC purchased a new stake in The Gabelli Dividend & Income Trust in the third quarter valued at $30,000. Vermillion Wealth Management Inc. acquired a new position in shares of The Gabelli Dividend & Income Trust in the 2nd quarter valued at $29,000. CIBC Private Wealth Group LLC purchased a new position in shares of The Gabelli Dividend & Income Trust during the 3rd quarter worth $38,000. Finally, Pinnacle Bancorp Inc. purchased a new position in shares of The Gabelli Dividend & Income Trust during the 2nd quarter worth $37,000.

About The Gabelli Dividend & Income Trust

The Gabelli Dividend & Income Trust (NYSE: GDV) is a diversified, closed-end management investment company organized in 1993 and based in Rye, New York. Managed by Gabelli Funds, LLC—a subsidiary of GAMCO Investors, Inc—the trust seeks to provide a high level of current dividend income while preserving prospects for capital appreciation. It is listed on the New York Stock Exchange and attracts investors looking for regular distributions and potential long-term total return.

The trust’s primary investment focus is on dividend-paying common stocks of U.S.