The Gabelli Dividend & Income Trust (NYSE:GDV) Stock Short Interest Falls 55.9%

The Gabelli Dividend & Income Trust (NYSE:GDV) was the target of a large decline in short interest in October. As of October 15th, there was short interest totaling 3,841 shares, a decline of 55.9% from the September 30th total of 8,700 shares. Based on an average daily volume of 79,053 shares, the days-to-cover ratio is presently 0.0 days.

The Gabelli Dividend & Income Trust Stock Performance

GDV stock traded down $0.21 during trading on Friday, hitting $28.48. 86,206 shares of the company’s stock traded hands, compared to its average volume of 109,416. The business has a fifty day simple moving average of $29.05 and a two-hundred day simple moving average of $28.96. The Gabelli Dividend & Income Trust has a 1 year low of $26.14 and a 1 year high of $31.00.

The Gabelli Dividend & Income Trust Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, December 11th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 6.3%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC raised its holdings in The Gabelli Dividend & Income Trust by 8.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 742,797 shares of the financial services provider’s stock worth $20,004,000 after purchasing an additional 55,550 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of The Gabelli Dividend & Income Trust in the 2nd quarter worth approximately $14,637,000. Capstone Investment Advisors LLC purchased a new position in shares of The Gabelli Dividend & Income Trust in the 2nd quarter worth approximately $7,710,000. Shaker Financial Services LLC grew its position in shares of The Gabelli Dividend & Income Trust by 35.9% in the 3rd quarter. Shaker Financial Services LLC now owns 222,969 shares of the financial services provider’s stock worth $6,308,000 after buying an additional 58,949 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC raised its stake in shares of The Gabelli Dividend & Income Trust by 9.1% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 189,491 shares of the financial services provider’s stock worth $5,361,000 after acquiring an additional 15,746 shares in the last quarter.

The Gabelli Dividend & Income Trust Company Profile

The Gabelli Dividend & Income Trust (NYSE:GDV) is a diversified closed-end management investment company designed to provide investors with income and long-term capital appreciation. The Trust invests primarily in dividend-paying and income-producing securities, including common stocks, preferred stocks, convertible securities and other equity or debt investments.

GDV seeks opportunities across a range of industries and geographic markets, with an emphasis on companies that the adviser believes offer attractive dividend income, solid business fundamentals and the potential for capital appreciation.