Insider Buying: The Gabelli Dividend & Income Trust (NYSE:GDV) Insider Purchases 3,600,000 Shares of Stock

The Gabelli Dividend & Income Trust (NYSE:GDV) insider Mario Gabelli purchased 3,600,000 shares of the business’s stock in a transaction on Friday, December 26th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $36,000,000.00. Following the purchase, the insider owned 3,600,000 shares of the company’s stock, valued at $36,000,000. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

The Gabelli Dividend & Income Trust Stock Down 0.1%

Shares of NYSE GDV traded down $0.04 during trading on Wednesday, hitting $27.80. 131,408 shares of the company traded hands, compared to its average volume of 132,384. The company has a 50-day moving average price of $27.16 and a 200-day moving average price of $26.77. The Gabelli Dividend & Income Trust has a 1 year low of $20.10 and a 1 year high of $27.93.

The Gabelli Dividend & Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.15 per share. This represents a c) dividend on an annualized basis and a yield of 6.5%. The ex-dividend date of this dividend is Tuesday, March 17th.

Hedge Funds Weigh In On The Gabelli Dividend & Income Trust

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in The Gabelli Dividend & Income Trust by 38.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 632,865 shares of the financial services provider’s stock valued at $16,461,000 after buying an additional 174,392 shares during the last quarter. Prospera Financial Services Inc lifted its stake in shares of The Gabelli Dividend & Income Trust by 211.7% in the second quarter. Prospera Financial Services Inc now owns 66,347 shares of the financial services provider’s stock worth $1,726,000 after acquiring an additional 45,063 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in The Gabelli Dividend & Income Trust by 17.8% in the second quarter. Rockefeller Capital Management L.P. now owns 236,958 shares of the financial services provider’s stock valued at $6,163,000 after purchasing an additional 35,727 shares during the last quarter. Shaker Financial Services LLC acquired a new stake in The Gabelli Dividend & Income Trust during the 3rd quarter valued at approximately $938,000. Finally, Raymond James Financial Inc. increased its holdings in The Gabelli Dividend & Income Trust by 2.3% during the 2nd quarter. Raymond James Financial Inc. now owns 1,359,134 shares of the financial services provider’s stock worth $35,351,000 after purchasing an additional 31,024 shares during the last quarter.

About The Gabelli Dividend & Income Trust

The Gabelli Dividend & Income Trust (NYSE: GDV) is a diversified, closed-end management investment company organized in 1993 and based in Rye, New York. Managed by Gabelli Funds, LLC—a subsidiary of GAMCO Investors, Inc—the trust seeks to provide a high level of current dividend income while preserving prospects for capital appreciation. It is listed on the New York Stock Exchange and attracts investors looking for regular distributions and potential long-term total return.

The trust’s primary investment focus is on dividend-paying common stocks of U.S.