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

The Gabelli Dividend & Income Trust (NYSE:GDV) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 38,600 shares, an increase of 34.5% from the February 13th total of 28,700 shares. Based on an average daily trading volume, of 140,300 shares, the days-to-cover ratio is presently 0.3 days.

The Gabelli Dividend & Income Trust Stock Performance

Shares of GDV traded up $0.17 on Monday, reaching $23.99. 93,984 shares of the stock traded hands, compared to its average volume of 149,479. The Gabelli Dividend & Income Trust has a 12 month low of $21.44 and a 12 month high of $25.67. The stock’s 50-day moving average price is $24.66 and its 200-day moving average price is $24.56.

The Gabelli Dividend & Income Trust Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Tuesday, April 15th will be given a $0.14 dividend. The ex-dividend date is Tuesday, April 15th.

Insider Transactions at The Gabelli Dividend & Income Trust

In other news, insider Mario J. Gabelli acquired 2,300 shares of the stock in a transaction dated Friday, January 17th. The shares were acquired at an average cost of $24.83 per share, for a total transaction of $57,109.00. Following the completion of the transaction, the insider now owns 145,812 shares in the company, valued at approximately $3,620,511.96. This trade represents a 1.60 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Trading of The Gabelli Dividend & Income Trust

A number of large investors have recently bought and sold shares of GDV. Wealth Enhancement Advisory Services LLC boosted its stake in The Gabelli Dividend & Income Trust by 12.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 180,793 shares of the financial services provider’s stock worth $4,366,000 after purchasing an additional 20,153 shares in the last quarter. Elequin Capital LP bought a new stake in shares of The Gabelli Dividend & Income Trust in the fourth quarter worth about $172,000. Waverly Advisors LLC bought a new stake in shares of The Gabelli Dividend & Income Trust in the fourth quarter worth about $684,000. Saba Capital Management L.P. increased its holdings in shares of The Gabelli Dividend & Income Trust by 15.1% in the fourth quarter. Saba Capital Management L.P. now owns 6,097,170 shares of the financial services provider’s stock worth $147,247,000 after acquiring an additional 801,838 shares in the last quarter. Finally, Focus Partners Wealth bought a new position in shares of The Gabelli Dividend & Income Trust during the fourth quarter worth about $600,000.

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.