The Gabelli Dividend & Income Trust (NYSE:GDV) Stock Price Crosses Below 200-Day Moving Average – Here’s Why

The Gabelli Dividend & Income Trust (NYSE:GDV) shares crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $29.29 and traded as low as $28.32. The Gabelli Dividend & Income Trust shares last traded at $28.5270, with a volume of 110,757 shares changing hands.

The Gabelli Dividend & Income Trust Price Performance

The stock’s fifty day moving average price is $29.28 and its two-hundred day moving average price is $29.30.

The Gabelli Dividend & Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 11th will be paid a $0.15 dividend. This represents a $1.80 annualized dividend and a yield of 6.4%. The ex-dividend date is Friday, December 11th.

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 the business. Bank of America Corp DE purchased a new stake in shares of The Gabelli Dividend & Income Trust during the second quarter worth approximately $14,637,000. Capstone Investment Advisors LLC acquired a new stake in shares of The Gabelli Dividend & Income Trust in the 2nd quarter valued at approximately $7,710,000. MSH Capital Advisors LLC acquired a new position in The Gabelli Dividend & Income Trust during the second quarter worth $2,968,000. Evolve Private Wealth LLC acquired a new stake in The Gabelli Dividend & Income Trust in the second quarter valued at $2,795,000. Finally, Silverlake Wealth Management LLC acquired a new position in shares of The Gabelli Dividend & Income Trust during the 2nd quarter worth $2,559,000.

About The Gabelli Dividend & Income Trust

The Gabelli Dividend & Income Trust (NYSE: GDV) is a diversified, closed-end management investment company. Its primary objective is to provide a high level of current income while also pursuing long-term capital appreciation. The trust invests primarily in dividend-paying common stocks and may also hold preferred stocks, convertible securities and other income-producing investments.

Gabelli Funds, LLC serves as the trust’s investment adviser. The portfolio is managed using Gabelli’s fundamental, research-driven approach, which focuses on identifying companies that the adviser believes are selling below their estimates of intrinsic value.