Short Interest in The Gabelli Dividend & Income Trust (NYSE:GDV) Drops By 76.1%

The Gabelli Dividend & Income Trust (NYSE:GDV) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 10,356 shares, a drop of 76.1% from the May 31st total of 43,301 shares. Based on an average trading volume of 145,253 shares, the days-to-cover ratio is currently 0.1 days.

The Gabelli Dividend & Income Trust Trading Up 0.3%

Shares of The Gabelli Dividend & Income Trust stock opened at $29.12 on Friday. The business’s fifty day simple moving average is $29.08 and its 200 day simple moving average is $28.42. The Gabelli Dividend & Income Trust has a 12 month low of $25.69 and a 12 month high of $29.58.

The Gabelli Dividend & Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a c) annualized dividend and a dividend yield of 6.2%.

Hedge Funds Weigh In On The Gabelli Dividend & Income Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in GDV. Focus Partners Wealth increased its holdings in The Gabelli Dividend & Income Trust by 38.0% during the first quarter. Focus Partners Wealth now owns 33,834 shares of the financial services provider’s stock worth $816,000 after buying an additional 9,310 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in The Gabelli Dividend & Income Trust in the first quarter valued at about $55,000. First Trust Advisors LP grew its position in shares of The Gabelli Dividend & Income Trust by 2.0% during the 2nd quarter. First Trust Advisors LP now owns 107,154 shares of the financial services provider’s stock valued at $2,787,000 after acquiring an additional 2,136 shares during the period. Raymond James Financial Inc. grew its position in shares of The Gabelli Dividend & Income Trust by 2.3% during the 2nd quarter. Raymond James Financial Inc. now owns 1,359,134 shares of the financial services provider’s stock valued at $35,351,000 after acquiring an additional 31,024 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC increased its stake in shares of The Gabelli Dividend & Income Trust by 24.6% during the 2nd quarter. Prevail Innovative Wealth Advisors LLC now owns 70,738 shares of the financial services provider’s stock worth $1,840,000 after purchasing an additional 13,959 shares during the last quarter.

The Gabelli Dividend & Income Trust Company Profile

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.