Insider Buying: The Gabelli Dividend & Income Trust (NYSE:GDV) Director Acquires $28,520.00 in Stock

The Gabelli Dividend & Income Trust (NYSE:GDV) Director Michael Melarkey acquired 1,000 shares of The Gabelli Dividend & Income Trust stock in a transaction dated Friday, January 23rd. The shares were acquired at an average price of $28.52 per share, with a total value of $28,520.00. Following the transaction, the director owned 1,000 shares in the company, valued at approximately $28,520. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

The Gabelli Dividend & Income Trust Stock Down 0.0%

Shares of GDV opened at $29.56 on Friday. The firm’s 50 day moving average is $29.11 and its 200-day moving average is $28.49. The Gabelli Dividend & Income Trust has a 12-month low of $25.75 and a 12-month high of $29.69.

The Gabelli Dividend & Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be issued a dividend of $0.15 per share. This represents a c) dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Wednesday, September 16th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Community Bank N.A. bought a new stake in shares of The Gabelli Dividend & Income Trust during the 3rd quarter worth $27,000. Larson Financial Group LLC acquired a new stake in shares of The Gabelli Dividend & Income Trust during the third quarter worth $30,000. Assetmark Inc. lifted its holdings in shares of The Gabelli Dividend & Income Trust by 142.3% during the first quarter. Assetmark Inc. now owns 1,323 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 777 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of The Gabelli Dividend & Income Trust during the third quarter valued at $38,000. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of The Gabelli Dividend & Income Trust in the 4th quarter valued at $44,000.

About The Gabelli Dividend & Income Trust

The Gabelli Dividend & Income Trust (NYSE: GDV) is a diversified, closed-end management investment company organized in 1993 and based in Rye, New York. Managed by Gabelli Funds, LLC—a subsidiary of GAMCO Investors, Inc—the trust seeks to provide a high level of current dividend income while preserving prospects for capital appreciation. It is listed on the New York Stock Exchange and attracts investors looking for regular distributions and potential long-term total return.

The trust’s primary investment focus is on dividend-paying common stocks of U.S.