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

The Gabelli Dividend & Income Trust (NYSE:GDV) was the recipient of a large increase in short interest in 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 trading volume of 140,300 shares, the short-interest ratio is presently 0.3 days.

The Gabelli Dividend & Income Trust Stock Performance

The Gabelli Dividend & Income Trust stock traded down $0.04 during trading hours on Tuesday, reaching $23.94. 68,843 shares of the company’s stock were exchanged, compared to its average volume of 149,183. The firm’s 50 day simple moving average is $24.66 and its 200 day simple moving average is $24.56. The Gabelli Dividend & Income Trust has a twelve month low of $21.44 and a twelve month high of $25.67.

The Gabelli Dividend & Income Trust Dividend Announcement

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

Insiders Place Their Bets

In other The Gabelli Dividend & Income Trust news, insider Mario J. Gabelli purchased 2,300 shares of the firm’s stock in a transaction on Friday, January 17th. The stock was purchased at an average cost of $24.83 per share, for a total transaction of $57,109.00. Following the acquisition, the insider now owns 145,812 shares in the company, valued at approximately $3,620,511.96. The trade was a 1.60 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Trading of The Gabelli Dividend & Income Trust

Several large investors have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in The Gabelli Dividend & Income Trust during the 4th quarter valued at about $31,727,000. Saba Capital Management L.P. boosted its stake in The Gabelli Dividend & Income Trust by 15.1% during the 4th quarter. Saba Capital Management L.P. now owns 6,097,170 shares of the financial services provider’s stock valued at $147,247,000 after purchasing an additional 801,838 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in The Gabelli Dividend & Income Trust during the 4th quarter valued at about $15,118,000. Sit Investment Associates Inc. lifted its position in shares of The Gabelli Dividend & Income Trust by 91.5% during the 4th quarter. Sit Investment Associates Inc. now owns 847,280 shares of the financial services provider’s stock worth $20,462,000 after buying an additional 404,940 shares in the last quarter. Finally, Jones Road Capital Management L.P. bought a new position in shares of The Gabelli Dividend & Income Trust during the 4th quarter worth approximately $4,830,000.

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.