The Gabelli Dividend & Income Trust (NYSE:GDV) Short Interest Up 34.5% in February

The Gabelli Dividend & Income Trust (NYSE:GDV) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 38,600 shares, an increase of 34.5% from the February 13th total of 28,700 shares. Based on an average daily trading volume, of 140,300 shares, the days-to-cover ratio is presently 0.3 days.

Insiders Place Their Bets

In related news, insider Mario J. Gabelli purchased 2,300 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were bought at an average price of $24.83 per share, with a total value of $57,109.00. Following the acquisition, the insider now owns 145,812 shares of the company’s stock, valued at $3,620,511.96. This trade represents a 1.60 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Saba Capital Management L.P. grew its position in shares of The Gabelli Dividend & Income Trust by 15.1% during the 4th quarter. Saba Capital Management L.P. now owns 6,097,170 shares of the financial services provider’s stock valued at $147,247,000 after purchasing an additional 801,838 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of The Gabelli Dividend & Income Trust during the 4th quarter valued at $31,727,000. Sit Investment Associates Inc. grew its position in The Gabelli Dividend & Income Trust by 91.5% in the fourth quarter. Sit Investment Associates Inc. now owns 847,280 shares of the financial services provider’s stock worth $20,462,000 after acquiring an additional 404,940 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in The Gabelli Dividend & Income Trust in the fourth quarter worth $15,118,000. Finally, Advisors Asset Management Inc. grew its position in The Gabelli Dividend & Income Trust by 0.3% in the fourth quarter. Advisors Asset Management Inc. now owns 479,490 shares of the financial services provider’s stock worth $11,580,000 after acquiring an additional 1,482 shares in the last quarter.

The Gabelli Dividend & Income Trust Trading Down 0.2 %

GDV stock traded down $0.04 during midday trading on Tuesday, reaching $23.94. 68,843 shares of the company’s stock traded hands, compared to its average volume of 149,183. The company has a 50-day moving average price of $24.66 and a two-hundred day moving average price of $24.56. The Gabelli Dividend & Income Trust has a 52 week low of $21.44 and a 52 week high of $25.67.

The Gabelli Dividend & Income Trust Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Tuesday, April 15th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, April 15th.

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.