Prospera Financial Services Inc Trims Stock Position in The Gabelli Dividend & Income Trust (NYSE:GDV)

Prospera Financial Services Inc reduced its stake in shares of The Gabelli Dividend & Income Trust (NYSE:GDV) by 25.1% during the third quarter, Holdings Channel reports. The firm owned 27,552 shares of the financial services provider’s stock after selling 9,212 shares during the quarter. Prospera Financial Services Inc’s holdings in The Gabelli Dividend & Income Trust were worth $674,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new position in The Gabelli Dividend & Income Trust during the 2nd quarter valued at $27,000. Bessemer Group Inc. purchased a new position in The Gabelli Dividend & Income Trust during the 1st quarter valued at $33,000. Wetzel Investment Advisors Inc. purchased a new position in The Gabelli Dividend & Income Trust during the 2nd quarter valued at $71,000. CWM LLC increased its position in The Gabelli Dividend & Income Trust by 11.6% during the 3rd quarter. CWM LLC now owns 5,227 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 545 shares during the period. Finally, Axxcess Wealth Management LLC purchased a new position in The Gabelli Dividend & Income Trust during the 3rd quarter valued at $203,000.

Insider Activity

In other The Gabelli Dividend & Income Trust news, insider Mario J. Gabelli bought 3,131,500 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were purchased at an average price of $10.00 per share, for a total transaction of $31,315,000.00. Following the acquisition, the insider now owns 3,131,500 shares in the company, valued at approximately $31,315,000. This represents a ? increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have acquired 3,134,000 shares of company stock worth $31,369,800.

The Gabelli Dividend & Income Trust Stock Performance

Shares of GDV stock opened at $25.01 on Friday. The Gabelli Dividend & Income Trust has a 12 month low of $20.15 and a 12 month high of $25.33. The company’s fifty day moving average price is $24.49 and its 200-day moving average price is $23.55.

The Gabelli Dividend & Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.11 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.28%. The ex-dividend date is Monday, March 17th.

The Gabelli Dividend & Income Trust 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.