The Gabelli Dividend & Income Trust (NYSE:GDV) Sees Significant Growth in Short Interest

The Gabelli Dividend & Income Trust (NYSE:GDV) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 48,100 shares, an increase of 153.2% from the November 30th total of 19,000 shares. Based on an average daily trading volume, of 137,200 shares, the days-to-cover ratio is currently 0.4 days.

Insider Buying and Selling

In other news, insider Mario J. Gabelli acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was purchased at an average price of $24.90 per share, for a total transaction of $49,800.00. Following the completion of the acquisition, the insider now directly owns 10,000 shares in the company, valued at $249,000. The trade was a 25.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. In the last three months, insiders have bought 3,134,000 shares of company stock valued at $31,369,800.

Institutional Investors Weigh In On The Gabelli Dividend & Income Trust

Several hedge funds and other institutional investors have recently made changes to their positions in GDV. International Assets Investment Management LLC boosted its stake in The Gabelli Dividend & Income Trust by 2,345.0% during the 3rd quarter. International Assets Investment Management LLC now owns 352,080 shares of the financial services provider’s stock valued at $8,608,000 after purchasing an additional 337,680 shares during the last quarter. Cornerstone Advisors LLC lifted its holdings in shares of The Gabelli Dividend & Income Trust by 17.0% in the second quarter. Cornerstone Advisors LLC now owns 1,649,457 shares of the financial services provider’s stock valued at $37,459,000 after purchasing an additional 239,758 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of The Gabelli Dividend & Income Trust during the second quarter valued at approximately $3,212,000. Private Advisor Group LLC grew its holdings in The Gabelli Dividend & Income Trust by 746.7% during the second quarter. Private Advisor Group LLC now owns 163,406 shares of the financial services provider’s stock worth $3,711,000 after buying an additional 144,107 shares in the last quarter. Finally, Capstone Investment Advisors LLC purchased a new stake in The Gabelli Dividend & Income Trust in the 3rd quarter valued at $3,138,000.

The Gabelli Dividend & Income Trust Price Performance

NYSE GDV opened at $24.60 on Friday. The company has a fifty day simple moving average of $24.77 and a 200 day simple moving average of $23.94. The Gabelli Dividend & Income Trust has a 12-month low of $20.93 and a 12-month high of $25.67.

The Gabelli Dividend & Income Trust Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, January 24th. Stockholders of record on Thursday, January 16th will be issued a dividend of $0.14 per share. This is a boost from The Gabelli Dividend & Income Trust’s previous dividend of $0.11. The ex-dividend date is Thursday, January 16th.

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.