City of London Investment Management Co. Ltd. Sells 21,800 Shares of The Gabelli Dividend & Income Trust $GDV

City of London Investment Management Co. Ltd. decreased its position in shares of The Gabelli Dividend & Income Trust (NYSE:GDV) by 60.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,376 shares of the financial services provider’s stock after selling 21,800 shares during the quarter. City of London Investment Management Co. Ltd.’s holdings in The Gabelli Dividend & Income Trust were worth $390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. 180 Wealth Advisors LLC raised its position in The Gabelli Dividend & Income Trust by 1.0% in the third quarter. 180 Wealth Advisors LLC now owns 42,917 shares of the financial services provider’s stock valued at $1,164,000 after purchasing an additional 405 shares during the last quarter. Community Bank N.A. bought a new stake in shares of The Gabelli Dividend & Income Trust during the third quarter worth about $27,000. US Bancorp DE bought a new stake in shares of The Gabelli Dividend & Income Trust during the third quarter worth about $43,000. Level Four Advisory Services LLC increased its stake in shares of The Gabelli Dividend & Income Trust by 11.9% in the second quarter. Level Four Advisory Services LLC now owns 15,320 shares of the financial services provider’s stock valued at $398,000 after buying an additional 1,624 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of The Gabelli Dividend & Income Trust by 2.0% in the second quarter. First Trust Advisors LP now owns 107,154 shares of the financial services provider’s stock valued at $2,787,000 after buying an additional 2,136 shares during the period.

The Gabelli Dividend & Income Trust Trading Down 0.0%

Shares of NYSE GDV opened at $27.32 on Friday. The company has a 50 day simple moving average of $28.57 and a 200 day simple moving average of $27.63. The Gabelli Dividend & Income Trust has a 1 year low of $20.10 and a 1 year high of $29.46.

The Gabelli Dividend & Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 6.6%.

Insiders Place Their Bets

In related news, insider Mario J. Gabelli bought 3,600,000 shares of the stock in a transaction that occurred on Friday, December 26th. The stock was acquired at an average cost of $10.00 per share, with a total value of $36,000,000.00. Following the transaction, the insider directly owned 3,600,000 shares in the company, valued at approximately $36,000,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James P. Conn bought 1,000 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were bought at an average cost of $28.73 per share, with a total value of $28,730.00. Following the completion of the transaction, the director owned 1,000 shares in the company, valued at $28,730. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have bought 5,830,584 shares of company stock worth $58,534,060.

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.