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

The Gabelli Dividend & Income Trust (NYSE:GDV) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 22,500 shares, a decline of 33.6% from the May 31st total of 33,900 shares. Based on an average trading volume of 149,200 shares, the days-to-cover ratio is currently 0.2 days.

The Gabelli Dividend & Income Trust Trading Up 0.0 %

GDV traded up $0.01 during trading on Friday, reaching $22.71. The company had a trading volume of 144,160 shares, compared to its average volume of 167,192. The Gabelli Dividend & Income Trust has a 12-month low of $18.04 and a 12-month high of $23.05. The firm’s 50-day simple moving average is $22.49 and its 200 day simple moving average is $22.11.

The Gabelli Dividend & Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Wednesday, July 17th will be paid a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a yield of 5.81%. The ex-dividend date is Wednesday, July 17th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GDV. Cornerstone Advisors LLC grew its stake in The Gabelli Dividend & Income Trust by 14.2% during the 1st quarter. Cornerstone Advisors LLC now owns 1,409,699 shares of the financial services provider’s stock valued at $32,395,000 after acquiring an additional 174,926 shares in the last quarter. Raymond James & Associates increased its holdings in shares of The Gabelli Dividend & Income Trust by 1.3% during the 1st quarter. Raymond James & Associates now owns 908,239 shares of the financial services provider’s stock worth $20,871,000 after purchasing an additional 11,538 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of The Gabelli Dividend & Income Trust by 27.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 826,407 shares of the financial services provider’s stock valued at $17,883,000 after buying an additional 177,824 shares during the last quarter. 1607 Capital Partners LLC lifted its stake in shares of The Gabelli Dividend & Income Trust by 0.5% in the fourth quarter. 1607 Capital Partners LLC now owns 784,003 shares of the financial services provider’s stock valued at $16,966,000 after buying an additional 3,820 shares during the period. Finally, International Assets Investment Management LLC grew its position in The Gabelli Dividend & Income Trust by 2,064.0% during the fourth quarter. International Assets Investment Management LLC now owns 311,616 shares of the financial services provider’s stock worth $6,743,000 after buying an additional 297,216 shares in the last quarter.

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.