GAMCO Investors (NYSE:GAMI) Shares Gap Down – Here’s Why

GAMCO Investors, Inc. (NYSE:GAMI) gapped down before the market opened on Friday . The stock had previously closed at $26.89, but opened at $25.59. GAMCO Investors shares last traded at $25.59, with a volume of 501 shares changing hands.

GAMCO Investors Trading Down 4.8 %

The firm’s 50-day moving average price is $24.33 and its 200-day moving average price is $24.65. The stock has a market capitalization of $619.79 million, a PE ratio of 9.69 and a beta of 0.96.

GAMCO Investors Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.25%. This is a boost from GAMCO Investors’s previous quarterly dividend of $0.04. The ex-dividend date is Tuesday, March 11th. GAMCO Investors’s dividend payout ratio is currently 6.06%.

About GAMCO Investors

GAMCO Investors, Inc is a publicly owned holding investment manager. The firm also provides wealth management, investment advisory, institutional research, brokerage, dealer, underwriting, and distribution services to its clients. It provides its services to individuals including high net worth individuals, corporate pension and profit-sharing plans, foundations, endowments, jointly trust plans, municipalities, and investment companies.