The Gabelli Dividend & Income Trust (NYSE:GDV) Insider Purchases $31,315,000.00 in Stock

The Gabelli Dividend & Income Trust (NYSE:GDV) insider Mario J. Gabelli purchased 3,131,500 shares of The Gabelli Dividend & Income Trust stock in a transaction dated Friday, October 11th. The shares were acquired at an average cost of $10.00 per share, for a total transaction of $31,315,000.00. Following the transaction, the insider now directly owns 3,131,500 shares of the company’s stock, valued at approximately $31,315,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

The Gabelli Dividend & Income Trust Stock Down 0.6 %

Shares of GDV traded down $0.16 during mid-day trading on Tuesday, hitting $24.70. 115,387 shares of the company’s stock were exchanged, compared to its average volume of 167,554. The Gabelli Dividend & Income Trust has a fifty-two week low of $18.04 and a fifty-two week high of $24.99. The stock’s 50-day moving average is $23.87 and its 200-day moving average is $23.07.

The Gabelli Dividend & Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, November 21st. Stockholders of record on Thursday, November 14th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.32 annualized dividend and a dividend yield of 5.34%.

Institutional Trading of The Gabelli Dividend & Income Trust

Several hedge funds have recently added to or reduced their stakes in the company. Cornerstone Advisors LLC raised its holdings in The Gabelli Dividend & Income Trust by 17.0% in the second quarter. Cornerstone Advisors LLC now owns 1,649,457 shares of the financial services provider’s stock valued at $37,459,000 after acquiring an additional 239,758 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in The Gabelli Dividend & Income Trust by 1.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 577,528 shares of the financial services provider’s stock valued at $13,116,000 after acquiring an additional 10,944 shares in the last quarter. Logan Stone Capital LLC increased its stake in The Gabelli Dividend & Income Trust by 21.8% in the second quarter. Logan Stone Capital LLC now owns 208,466 shares of the financial services provider’s stock valued at $4,734,000 after purchasing an additional 37,363 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in The Gabelli Dividend & Income Trust by 21.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 184,946 shares of the financial services provider’s stock valued at $4,200,000 after purchasing an additional 32,553 shares during the last quarter. Finally, Private Advisor Group LLC increased its stake in The Gabelli Dividend & Income Trust by 746.7% in the second quarter. Private Advisor Group LLC now owns 163,406 shares of the financial services provider’s stock valued at $3,711,000 after purchasing an additional 144,107 shares during 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.