8,550 Shares in The Gabelli Dividend & Income Trust (NYSE:GDV) Bought by MGB Wealth Management LLC

MGB Wealth Management LLC acquired a new position in shares of The Gabelli Dividend & Income Trust (NYSE:GDV) during the third quarter, HoldingsChannel reports. The firm acquired 8,550 shares of the financial services provider’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. PNC Financial Services Group Inc. raised its holdings in shares of The Gabelli Dividend & Income Trust by 17.4% during the third quarter. PNC Financial Services Group Inc. now owns 44,625 shares of the financial services provider’s stock worth $1,091,000 after acquiring an additional 6,625 shares during the period. Wolverine Asset Management LLC raised its holdings in shares of The Gabelli Dividend & Income Trust by 9.6% during the third quarter. Wolverine Asset Management LLC now owns 158,151 shares of the financial services provider’s stock worth $3,867,000 after acquiring an additional 13,834 shares during the period. Ashton Thomas Securities LLC raised its holdings in shares of The Gabelli Dividend & Income Trust by 4.0% during the third quarter. Ashton Thomas Securities LLC now owns 31,550 shares of the financial services provider’s stock worth $771,000 after acquiring an additional 1,200 shares during the period. Axxcess Wealth Management LLC acquired a new stake in shares of The Gabelli Dividend & Income Trust during the third quarter worth $203,000. Finally, Shaker Financial Services LLC raised its holdings in shares of The Gabelli Dividend & Income Trust by 241.0% during the third quarter. Shaker Financial Services LLC now owns 58,652 shares of the financial services provider’s stock worth $1,434,000 after acquiring an additional 41,452 shares during the period.

The Gabelli Dividend & Income Trust Stock Up 0.5 %

The Gabelli Dividend & Income Trust stock opened at $25.01 on Friday. The Gabelli Dividend & Income Trust has a 1-year low of $20.15 and a 1-year high of $25.33. The company has a fifty day simple moving average of $24.49 and a 200 day simple moving average of $23.55.

The Gabelli Dividend & Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 24th. Investors 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 yield of 5.28%. The ex-dividend date is Monday, March 17th.

Insider Activity at The Gabelli Dividend & Income Trust

In other news, insider Mario J. Gabelli acquired 2,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was bought at an average price of $24.90 per share, with a total value of $49,800.00. Following the transaction, the insider now directly owns 10,000 shares in the company, valued at approximately $249,000. The trade was a 25.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last 90 days, insiders acquired 3,134,000 shares of company stock valued at $31,369,800.

The Gabelli Dividend & Income Trust Profile

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.