Saba Capital Management L.P. Reduces Holdings in The Gabelli Dividend & Income Trust $GDV

Saba Capital Management L.P. reduced its holdings in shares of The Gabelli Dividend & Income Trust (NYSE:GDV) by 11.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,106,460 shares of the financial services provider’s stock after selling 644,798 shares during the quarter. The Gabelli Dividend & Income Trust makes up about 3.8% of Saba Capital Management L.P.’s holdings, making the stock its 4th largest position. Saba Capital Management L.P.’s holdings in The Gabelli Dividend & Income Trust were worth $137,517,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Focus Partners Wealth increased its position in shares of The Gabelli Dividend & Income Trust by 38.0% during the 1st quarter. Focus Partners Wealth now owns 33,834 shares of the financial services provider’s stock valued at $816,000 after purchasing an additional 9,310 shares during the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of The Gabelli Dividend & Income Trust during the 1st quarter worth $55,000. First Trust Advisors LP boosted its holdings in shares of The Gabelli Dividend & Income Trust by 2.0% in the 2nd quarter. First Trust Advisors LP now owns 107,154 shares of the financial services provider’s stock worth $2,787,000 after buying an additional 2,136 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of The Gabelli Dividend & Income Trust by 2.3% in the 2nd quarter. Raymond James Financial Inc. now owns 1,359,134 shares of the financial services provider’s stock worth $35,351,000 after buying an additional 31,024 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC grew its position in The Gabelli Dividend & Income Trust by 24.6% during the second quarter. Prevail Innovative Wealth Advisors LLC now owns 70,738 shares of the financial services provider’s stock valued at $1,840,000 after buying an additional 13,959 shares during the period.

The Gabelli Dividend & Income Trust Stock Performance

GDV opened at $29.83 on Tuesday. The Gabelli Dividend & Income Trust has a fifty-two week low of $25.75 and a fifty-two week high of $30.16. The firm has a 50-day moving average of $29.29 and a 200 day moving average of $28.73.

The Gabelli Dividend & Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be paid a $0.15 dividend. This represents a c) dividend on an annualized basis and a yield of 6.0%. The ex-dividend date is Wednesday, September 16th.

The Gabelli Dividend & Income Trust Company Profile

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.