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

The Gabelli Dividend & Income Trust (NYSE:GDV) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 10,411 shares, a growth of 186.0% from the August 31st total of 3,640 shares. Based on an average daily volume of 112,464 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On The Gabelli Dividend & Income Trust

Several hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in The Gabelli Dividend & Income Trust by 142.3% during the 1st quarter. Assetmark Inc. now owns 1,323 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 777 shares in the last quarter. Allied Private Wealth LLC purchased a new position in shares of The Gabelli Dividend & Income Trust in the second quarter worth $40,000. Hilton Head Capital Partners LLC purchased a new stake in The Gabelli Dividend & Income Trust during the 4th quarter valued at about $44,000. Kilter Group LLC purchased a new stake in The Gabelli Dividend & Income Trust in the second quarter valued at approximately $47,000. Finally, Navigoe LLC purchased a new stake in shares of The Gabelli Dividend & Income Trust in the 2nd quarter valued at $57,000.

The Gabelli Dividend & Income Trust Trading Up 0.6%

GDV traded up $0.18 on Friday, hitting $28.96. The company had a trading volume of 91,192 shares, compared to its average volume of 112,698. The business’s fifty day simple moving average is $29.89 and its 200 day simple moving average is $29.11. The Gabelli Dividend & Income Trust has a 12-month low of $26.14 and a 12-month high of $31.00.

The Gabelli Dividend & Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 11th will be issued a $0.15 dividend. This represents a $1.80 annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Friday, December 11th.

About The Gabelli Dividend & Income Trust

The Gabelli Dividend & Income Trust (NYSE: GDV) is a diversified, closed-end management investment company that seeks to provide investors with a combination of current income and long-term capital appreciation. The fund primarily invests in dividend-paying common stocks and other income-producing securities.

Its portfolio may include preferred stocks, convertible securities, corporate debt and other equity or income-oriented investments. The trust generally emphasizes companies with established businesses, durable competitive positions and the potential to return capital to shareholders through dividends or other distributions.

Established in 2003, the Gabelli Dividend & Income Trust invests across a range of industries and may hold securities issued by companies in the United States and other countries.