Short Interest in The Gabelli Dividend & Income Trust (NYSE:GDV) Rises By 44.6%

The Gabelli Dividend & Income Trust (NYSE:GDV) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 24,300 shares, a growth of 44.6% from the October 15th total of 16,800 shares. Based on an average daily volume of 155,700 shares, the days-to-cover ratio is currently 0.2 days.

The Gabelli Dividend & Income Trust Stock Performance

GDV traded down $0.05 on Friday, reaching $24.50. 139,632 shares of the company’s stock were exchanged, compared to its average volume of 163,167. The Gabelli Dividend & Income Trust has a twelve month low of $19.52 and a twelve month high of $25.33. The stock’s fifty day moving average price is $24.37 and its 200-day moving average price is $23.44.

The Gabelli Dividend & Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, February 21st. Stockholders of record on Thursday, February 13th will be given a $0.11 dividend. The ex-dividend date is Thursday, February 13th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.39%.

Insiders Place Their Bets

In other news, insider Mario J. Gabelli acquired 3,131,500 shares of the firm’s stock in a transaction on Friday, October 11th. The shares were bought 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 of the company’s stock, valued at approximately $31,315,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have acquired 3,134,000 shares of company stock worth $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. Larson Financial Group LLC acquired a new stake in shares of The Gabelli Dividend & Income Trust during the 2nd quarter worth about $27,000. Bessemer Group Inc. acquired a new stake in shares of The Gabelli Dividend & Income Trust during the first quarter worth about $33,000. Wetzel Investment Advisors Inc. purchased a new position in The Gabelli Dividend & Income Trust in the 2nd quarter valued at approximately $71,000. CWM LLC increased its position in shares of The Gabelli Dividend & Income Trust by 11.6% during the third quarter. CWM LLC now owns 5,227 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 545 shares during the period. Finally, Constitution Capital LLC purchased a new position in shares of The Gabelli Dividend & Income Trust in the 3rd quarter valued at about $203,000.

About The Gabelli Dividend & Income Trust

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.