Bank of New York Mellon Corp boosted its holdings in Gamco Investors, Inc. (NYSE:GBL) by 0.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,693 shares of the closed-end fund’s stock after acquiring an additional 19 shares during the period. Bank of New York Mellon Corp owned 0.25% of Gamco Investors worth $2,122,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of GBL. Vanguard Group Inc. grew its stake in Gamco Investors by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 376,843 shares of the closed-end fund’s stock valued at $11,150,000 after acquiring an additional 23,589 shares during the last quarter. First Quadrant L P CA grew its stake in Gamco Investors by 2,262.0% in the 2nd quarter. First Quadrant L P CA now owns 18,896 shares of the closed-end fund’s stock valued at $559,000 after acquiring an additional 18,096 shares during the last quarter. Rice Hall James & Associates LLC grew its stake in Gamco Investors by 27.0% in the 2nd quarter. Rice Hall James & Associates LLC now owns 74,724 shares of the closed-end fund’s stock valued at $2,212,000 after acquiring an additional 15,894 shares during the last quarter. Beach Investment Management LLC. acquired a new stake in Gamco Investors in the 2nd quarter valued at about $352,000. Finally, Menta Capital LLC acquired a new stake in Gamco Investors in the 1st quarter valued at about $342,000. 25.35% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Gamco Investors, Inc. (NYSE:GBL) opened at 29.45 on Friday. The firm has a market capitalization of $850.52 million, a PE ratio of 8.02 and a beta of 1.05. Gamco Investors, Inc. has a 52 week low of $27.55 and a 52 week high of $33.55. The company has a 50-day moving average of $29.23 and a 200-day moving average of $29.46.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 26th. Investors of record on Tuesday, September 12th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Monday, September 11th. Gamco Investors’s payout ratio is currently 2.17%.

COPYRIGHT VIOLATION WARNING: This news story was first published by Daily Political and is the property of of Daily Political. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States & international copyright and trademark law. The legal version of this news story can be accessed at https://www.dailypolitical.com/2017/10/15/bank-of-new-york-mellon-corp-raises-position-in-gamco-investors-inc-gbl.html.

Separately, BidaskClub raised shares of Gamco Investors from a “sell” rating to a “hold” rating in a research note on Monday, July 24th.

In related news, insider Kieran Caterina sold 2,325 shares of Gamco Investors stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $29.47, for a total transaction of $68,517.75. Following the transaction, the insider now directly owns 5,242 shares of the company’s stock, valued at $154,481.74. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 78.99% of the stock is owned by insiders.

About Gamco Investors

GAMCO Investors, Inc is a holding company. The Company is a provider of investment advisory services to open and closed-end funds, institutional and private wealth management investors principally in the United States. The Company operates through the investment advisory and asset management business segment.

Institutional Ownership by Quarter for Gamco Investors (NYSE:GBL)

Receive News & Ratings for Gamco Investors Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gamco Investors Inc. and related companies with MarketBeat.com's FREE daily email newsletter.