Short Interest in The Gabelli Dividend & Income Trust (NYSE:GDV) Grows By 153.2%

The Gabelli Dividend & Income Trust (NYSE:GDV) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 48,100 shares, a growth of 153.2% from the November 30th total of 19,000 shares. Based on an average daily volume of 137,200 shares, the days-to-cover ratio is currently 0.4 days.

The Gabelli Dividend & Income Trust Stock Performance

Shares of NYSE GDV opened at $24.35 on Friday. The stock’s 50 day moving average price is $24.76 and its two-hundred day moving average price is $23.96. The Gabelli Dividend & Income Trust has a 52-week low of $20.93 and a 52-week high of $25.67.

The Gabelli Dividend & Income Trust Increases Dividend

The business also recently announced a dividend, which will be paid on Friday, January 24th. Shareholders of record on Thursday, January 16th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, January 16th. This is a positive change from The Gabelli Dividend & Income Trust’s previous dividend of $0.11.

Insider Buying and Selling at The Gabelli Dividend & Income Trust

In related news, insider Mario J. Gabelli acquired 2,000 shares of The Gabelli Dividend & Income Trust stock in a transaction on Tuesday, October 15th. The shares were bought at an average price of $24.90 per share, for a total transaction of $49,800.00. Following the completion of the purchase, the insider now directly owns 10,000 shares in the company, valued at $249,000. This trade represents a 25.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have bought 3,134,000 shares of company stock worth $31,369,800.

Hedge Funds Weigh In On The Gabelli Dividend & Income Trust

Institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in The Gabelli Dividend & Income Trust during the 3rd quarter valued at $180,000. Sanctuary Advisors LLC increased its position in shares of The Gabelli Dividend & Income Trust by 5.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 154,454 shares of the financial services provider’s stock valued at $3,863,000 after purchasing an additional 8,457 shares during the period. TD Private Client Wealth LLC bought a new position in The Gabelli Dividend & Income Trust during the third quarter valued at about $78,000. MML Investors Services LLC raised its position in The Gabelli Dividend & Income Trust by 3.6% in the third quarter. MML Investors Services LLC now owns 14,212 shares of the financial services provider’s stock worth $347,000 after acquiring an additional 488 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in The Gabelli Dividend & Income Trust by 6.2% during the third quarter. HighTower Advisors LLC now owns 94,799 shares of the financial services provider’s stock valued at $2,320,000 after purchasing an additional 5,541 shares during the last quarter.

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.