The Gabelli Dividend & Income Trust (NYSE:GDV) Short Interest Update

The Gabelli Dividend & Income Trust (NYSE:GDV) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 70,000 shares, a growth of 81.3% from the February 28th total of 38,600 shares. Based on an average daily trading volume, of 138,300 shares, the days-to-cover ratio is presently 0.5 days.

Insider Buying and Selling

In other news, insider Mario J. Gabelli acquired 2,300 shares of The Gabelli Dividend & Income Trust stock in a transaction on Friday, January 17th. The stock was acquired at an average cost of $24.83 per share, with a total value of $57,109.00. Following the transaction, the insider now owns 145,812 shares of the company’s stock, valued at approximately $3,620,511.96. This trade represents a 1.60 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On The Gabelli Dividend & Income Trust

Several institutional investors have recently added to or reduced their stakes in GDV. Raymond James Financial Inc. purchased a new position in The Gabelli Dividend & Income Trust in the fourth quarter valued at about $31,727,000. Saba Capital Management L.P. raised its holdings in shares of The Gabelli Dividend & Income Trust by 15.1% in the 4th quarter. Saba Capital Management L.P. now owns 6,097,170 shares of the financial services provider’s stock worth $147,247,000 after purchasing an additional 801,838 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in The Gabelli Dividend & Income Trust in the fourth quarter valued at approximately $15,118,000. Sit Investment Associates Inc. grew its holdings in The Gabelli Dividend & Income Trust by 91.5% during the fourth quarter. Sit Investment Associates Inc. now owns 847,280 shares of the financial services provider’s stock valued at $20,462,000 after purchasing an additional 404,940 shares during the period. Finally, Jones Road Capital Management L.P. purchased a new stake in The Gabelli Dividend & Income Trust in the fourth quarter worth $4,830,000.

The Gabelli Dividend & Income Trust Stock Performance

Shares of GDV traded down $0.17 on Friday, reaching $24.13. 113,505 shares of the company’s stock traded hands, compared to its average volume of 149,233. The stock’s 50 day simple moving average is $24.65 and its two-hundred day simple moving average is $24.59. The Gabelli Dividend & Income Trust has a 52-week low of $21.44 and a 52-week high of $25.67.

The Gabelli Dividend & Income Trust Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.14 per share. The ex-dividend date is Tuesday, April 15th.

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.