Saba Capital Management L.P. Has $137.52 Million Position in The Gabelli Dividend & Income Trust $GDV

Saba Capital Management L.P. reduced its position in The Gabelli Dividend & Income Trust (NYSE:GDV) by 11.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,106,460 shares of the financial services provider’s stock after selling 644,798 shares during the period. The Gabelli Dividend & Income Trust makes up approximately 3.8% of Saba Capital Management L.P.’s holdings, making the stock its 4th largest holding. Saba Capital Management L.P.’s holdings in The Gabelli Dividend & Income Trust were worth $137,517,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Evolve Private Wealth LLC purchased a new position in shares of The Gabelli Dividend & Income Trust during the 4th quarter valued at $2,978,000. &PARTNERS increased its holdings in The Gabelli Dividend & Income Trust by 126.5% in the 4th quarter. &PARTNERS now owns 130,667 shares of the financial services provider’s stock worth $3,629,000 after acquiring an additional 72,980 shares during the last quarter. Fifth Third Bancorp increased its holdings in The Gabelli Dividend & Income Trust by 6,456.0% in the 1st quarter. Fifth Third Bancorp now owns 65,560 shares of the financial services provider’s stock worth $1,766,000 after acquiring an additional 64,560 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in The Gabelli Dividend & Income Trust by 12.1% in the 4th quarter. Advisors Asset Management Inc. now owns 565,491 shares of the financial services provider’s stock worth $15,704,000 after acquiring an additional 61,113 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in The Gabelli Dividend & Income Trust by 8.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 742,797 shares of the financial services provider’s stock valued at $20,004,000 after acquiring an additional 55,550 shares during the period.

The Gabelli Dividend & Income Trust Stock Performance

Shares of The Gabelli Dividend & Income Trust stock opened at $29.83 on Tuesday. The Gabelli Dividend & Income Trust has a 52-week low of $25.75 and a 52-week high of $30.16. The stock’s 50-day simple moving average is $29.29 and its 200 day simple moving average is $28.73.

The Gabelli Dividend & Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, September 16th. This represents a c) annualized dividend and a dividend yield of 6.0%.

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.