MRA Advisory Group Sells 1,280 Shares of The Gabelli Dividend & Income Trust (NYSE:GDV)

MRA Advisory Group lessened its holdings in shares of The Gabelli Dividend & Income Trust (NYSE:GDV) by 12.2% in the third quarter, Holdings Channel.com reports. The fund owned 9,172 shares of the financial services provider’s stock after selling 1,280 shares during the quarter. MRA Advisory Group’s holdings in The Gabelli Dividend & Income Trust were worth $224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cornerstone Advisors LLC grew its stake in shares of The Gabelli Dividend & Income Trust by 17.0% during the second quarter. Cornerstone Advisors LLC now owns 1,649,457 shares of the financial services provider’s stock worth $37,459,000 after purchasing an additional 239,758 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in The Gabelli Dividend & Income Trust by 1.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 577,528 shares of the financial services provider’s stock worth $13,116,000 after buying an additional 10,944 shares during the last quarter. Logan Stone Capital LLC grew its position in shares of The Gabelli Dividend & Income Trust by 21.8% during the 2nd quarter. Logan Stone Capital LLC now owns 208,466 shares of the financial services provider’s stock worth $4,734,000 after buying an additional 37,363 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of The Gabelli Dividend & Income Trust by 21.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 184,946 shares of the financial services provider’s stock valued at $4,200,000 after acquiring an additional 32,553 shares during the last quarter. Finally, Private Advisor Group LLC raised its position in shares of The Gabelli Dividend & Income Trust by 746.7% in the 2nd quarter. Private Advisor Group LLC now owns 163,406 shares of the financial services provider’s stock valued at $3,711,000 after acquiring an additional 144,107 shares during the period.

Insider Activity

In other news, insider Mario J. Gabelli acquired 3,280 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $22.91 per share, for a total transaction of $75,144.80. Following the transaction, the insider now directly owns 142,592 shares in the company, valued at $3,266,782.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

The Gabelli Dividend & Income Trust Price Performance

The Gabelli Dividend & Income Trust stock opened at $24.20 on Friday. The company’s 50 day simple moving average is $23.62 and its 200 day simple moving average is $22.96. The Gabelli Dividend & Income Trust has a fifty-two week low of $18.04 and a fifty-two week high of $24.49.

The Gabelli Dividend & Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, October 24th. Stockholders of record on Thursday, October 17th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, October 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.45%.

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.