Short Interest in The Gabelli Dividend & Income Trust (NYSE:GDV) Grows By 81.3%

The Gabelli Dividend & Income Trust (NYSE:GDV) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 70,000 shares, an increase of 81.3% from the February 28th total of 38,600 shares. Based on an average daily volume of 138,300 shares, the days-to-cover ratio is presently 0.5 days.

The Gabelli Dividend & Income Trust Price Performance

Shares of GDV stock traded down $0.17 during trading hours on Friday, reaching $24.13. The stock had a trading volume of 113,505 shares, compared to its average volume of 149,233. The stock’s fifty day simple moving average is $24.65 and its 200 day simple moving average is $24.59. The Gabelli Dividend & Income Trust has a 12 month low of $21.44 and a 12 month high of $25.67.

The Gabelli Dividend & Income Trust Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Tuesday, April 15th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, April 15th.

Insider Activity

In related news, insider Mario J. Gabelli bought 2,300 shares of the business’s stock in a transaction on Friday, January 17th. The stock was acquired at an average price of $24.83 per share, for a total transaction of $57,109.00. Following the purchase, the insider now directly owns 145,812 shares in the company, valued at $3,620,511.96. This trade represents a 1.60 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On The Gabelli Dividend & Income Trust

A number of institutional investors and hedge funds have recently made changes to their positions in GDV. Saba Capital Management L.P. grew its holdings in shares of The Gabelli Dividend & Income Trust by 15.1% during the fourth quarter. Saba Capital Management L.P. now owns 6,097,170 shares of the financial services provider’s stock worth $147,247,000 after purchasing an additional 801,838 shares in the last quarter. Raymond James Financial Inc. bought a new stake in The Gabelli Dividend & Income Trust in the 4th quarter worth approximately $31,727,000. Sit Investment Associates Inc. raised its stake in shares of The Gabelli Dividend & Income Trust by 91.5% during the fourth quarter. Sit Investment Associates Inc. now owns 847,280 shares of the financial services provider’s stock worth $20,462,000 after acquiring an additional 404,940 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in shares of The Gabelli Dividend & Income Trust in the 4th quarter worth approximately $15,118,000. Finally, Advisors Asset Management Inc. boosted its stake in shares of The Gabelli Dividend & Income Trust by 0.3% in the 4th quarter. Advisors Asset Management Inc. now owns 479,490 shares of the financial services provider’s stock valued at $11,580,000 after purchasing an additional 1,482 shares in the last quarter.

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.