Cornerstone Advisors LLC Sells 1,589,335 Shares of The Gabelli Dividend & Income Trust (NYSE:GDV)

Cornerstone Advisors LLC decreased its position in The Gabelli Dividend & Income Trust (NYSE:GDV) by 96.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 60,122 shares of the financial services provider’s stock after selling 1,589,335 shares during the period. Cornerstone Advisors LLC’s holdings in The Gabelli Dividend & Income Trust were worth $1,470,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of GDV. Wealth Enhancement Advisory Services LLC grew its stake in shares of The Gabelli Dividend & Income Trust by 0.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 159,776 shares of the financial services provider’s stock worth $3,629,000 after acquiring an additional 542 shares during the period. CWM LLC lifted its holdings in shares of The Gabelli Dividend & Income Trust by 11.6% during the 3rd quarter. CWM LLC now owns 5,227 shares of the financial services provider’s stock worth $128,000 after acquiring an additional 545 shares during the last quarter. Brookstone Capital Management increased its position in shares of The Gabelli Dividend & Income Trust by 3.7% during the 2nd quarter. Brookstone Capital Management now owns 15,496 shares of the financial services provider’s stock valued at $368,000 after purchasing an additional 551 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in The Gabelli Dividend & Income Trust by 1.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 64,662 shares of the financial services provider’s stock valued at $1,468,000 after acquiring an additional 615 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in The Gabelli Dividend & Income Trust by 0.7% in the second quarter. Envestnet Asset Management Inc. now owns 101,952 shares of the financial services provider’s stock worth $2,315,000 after purchasing an additional 721 shares during the last quarter.

Insider Activity at The Gabelli Dividend & Income Trust

In related news, insider Mario J. Gabelli bought 3,131,500 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were purchased at an average price of $10.00 per share, with a total value of $31,315,000.00. Following the purchase, the insider now owns 3,131,500 shares of the company’s stock, valued at approximately $31,315,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have acquired a total of 3,134,000 shares of company stock worth $31,369,800 in the last 90 days.

The Gabelli Dividend & Income Trust Stock Performance

GDV opened at $24.89 on Friday. The Gabelli Dividend & Income Trust has a 1 year low of $20.05 and a 1 year high of $25.33. The stock’s 50 day simple moving average is $24.47 and its 200 day simple moving average is $23.52.

The Gabelli Dividend & Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 17th will be given a $0.11 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date of this dividend is Monday, March 17th.

About The Gabelli Dividend & Income Trust

The Gabelli Dividend & Income Trust is a closed ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in dividend paying stocks of companies.