The Gabelli Dividend & Income Trust (NYSE:GDV) Sees Significant Increase in Short Interest

The Gabelli Dividend & Income Trust (NYSE:GDV) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totalling 77,700 shares, an increase of 175.5% from the February 27th total of 28,200 shares. Based on an average daily volume of 341,000 shares, the days-to-cover ratio is presently 0.2 days. Approximately 2.9% of the shares of the company are sold short.

A number of institutional investors have recently bought and sold shares of the business. Carmichael Hill & Associates Inc. acquired a new position in shares of The Gabelli Dividend & Income Trust in the 4th quarter valued at about $51,000. US Bancorp DE lifted its holdings in shares of The Gabelli Dividend & Income Trust by 200.0% in the 4th quarter. US Bancorp DE now owns 3,750 shares of the financial services provider’s stock valued at $82,000 after buying an additional 2,500 shares during the period. Rockefeller Capital Management L.P. acquired a new position in shares of The Gabelli Dividend & Income Trust in the 4th quarter valued at about $154,000. Ancora Advisors LLC acquired a new position in shares of The Gabelli Dividend & Income Trust in the 4th quarter valued at about $159,000. Finally, IHT Wealth Management LLC acquired a new position in shares of The Gabelli Dividend & Income Trust in the 4th quarter valued at about $203,000.

The Gabelli Dividend & Income Trust stock traded up $1.37 during trading hours on Thursday, hitting $14.91. 890,760 shares of the stock traded hands, compared to its average volume of 532,387. The firm’s 50 day moving average price is $18.54 and its 200-day moving average price is $20.62. The Gabelli Dividend & Income Trust has a 1 year low of $10.40 and a 1 year high of $22.52.

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Tuesday, June 16th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.32 annualized dividend and a yield of 8.85%.

The Gabelli Dividend & Income Trust Company 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.

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