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

The Gabelli Dividend & Income Trust (NYSE:GDV) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 48,100 shares, a growth 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 presently 0.4 days.

The Gabelli Dividend & Income Trust Trading Down 1.0 %

GDV stock opened at $24.35 on Friday. The firm has a 50 day moving average price of $24.76 and a 200-day moving average price of $23.96. The Gabelli Dividend & Income Trust has a 52-week low of $20.93 and a 52-week high of $25.67.

The Gabelli Dividend & Income Trust Increases Dividend

The company also recently announced a dividend, which will be paid on Friday, January 24th. Investors of record on Thursday, January 16th will be paid a dividend of $0.14 per share. This is a positive change from The Gabelli Dividend & Income Trust’s previous dividend of $0.11. The ex-dividend date of this dividend is Thursday, January 16th.

Insider Buying and Selling at The Gabelli Dividend & Income Trust

In related news, insider Mario J. Gabelli purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was bought at an average cost of $24.90 per share, with a total value of $49,800.00. Following the completion of the purchase, the insider now directly owns 10,000 shares in the company, valued at approximately $249,000. This represents a 25.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders bought 3,134,000 shares of company stock valued at $31,369,800 in the last quarter.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new position in The Gabelli Dividend & Income Trust during the 3rd quarter worth approximately $180,000. Sanctuary Advisors LLC grew its position in shares of The Gabelli Dividend & Income Trust by 5.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 154,454 shares of the financial services provider’s stock valued at $3,863,000 after buying an additional 8,457 shares during the last quarter. TD Private Client Wealth LLC purchased a new stake in The Gabelli Dividend & Income Trust in the third quarter valued at $78,000. MML Investors Services LLC grew its holdings in shares of The Gabelli Dividend & Income Trust by 3.6% during the third quarter. MML Investors Services LLC now owns 14,212 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 488 shares during the last quarter. Finally, HighTower Advisors LLC increased its position in The Gabelli Dividend & Income Trust by 6.2% during the third quarter. HighTower Advisors LLC now owns 94,799 shares of the financial services provider’s stock worth $2,320,000 after buying an additional 5,541 shares during the period.

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.