PMG Family Office LLC Makes New Investment in The Gabelli Dividend & Income Trust $GDV

PMG Family Office LLC bought a new stake in The Gabelli Dividend & Income Trust (NYSE:GDV) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 18,830 shares of the financial services provider’s stock, valued at approximately $511,000.

A number of other hedge funds and other institutional investors have also modified their holdings of GDV. Allspring Global Investments Holdings LLC boosted its position in shares of The Gabelli Dividend & Income Trust by 8.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 685,066 shares of the financial services provider’s stock valued at $18,586,000 after acquiring an additional 52,201 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of The Gabelli Dividend & Income Trust by 17.8% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 236,958 shares of the financial services provider’s stock valued at $6,163,000 after buying an additional 35,727 shares during the period. Creative Planning grew its stake in shares of The Gabelli Dividend & Income Trust by 88.3% in the 2nd quarter. Creative Planning now owns 36,740 shares of the financial services provider’s stock valued at $956,000 after buying an additional 17,229 shares during the period. Shaker Financial Services LLC acquired a new stake in shares of The Gabelli Dividend & Income Trust during the 3rd quarter worth approximately $938,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of The Gabelli Dividend & Income Trust by 0.7% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 298,809 shares of the financial services provider’s stock worth $7,772,000 after buying an additional 2,158 shares during the last quarter.

Insiders Place Their Bets

In other The Gabelli Dividend & Income Trust news, insider Mario J. Gabelli purchased 4,500 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were acquired at an average price of $29.09 per share, with a total value of $130,905.00. Following the purchase, the insider directly owned 25,000 shares in the company, valued at approximately $727,250. This trade represents a 21.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James P. Conn purchased 1,000 shares of the stock in a transaction dated Tuesday, January 27th. The shares were acquired at an average price of $28.73 per share, with a total value of $28,730.00. Following the completion of the acquisition, the director owned 1,000 shares in the company, valued at approximately $28,730. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 5,830,584 shares of company stock worth $58,534,060 in the last 90 days.

The Gabelli Dividend & Income Trust Stock Down 1.4%

GDV stock opened at $27.13 on Thursday. The Gabelli Dividend & Income Trust has a one year low of $20.10 and a one year high of $29.46. The firm’s 50 day moving average price is $28.52 and its 200-day moving average price is $27.64.

The Gabelli Dividend & Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be given a $0.15 dividend. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 6.6%.

The Gabelli Dividend & Income Trust Company Profile

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.