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

The Gabelli Dividend & Income Trust (NYSE:GDV) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 3,640 shares, a drop of 47.0% from the August 15th total of 6,872 shares. Based on an average daily trading volume, of 86,242 shares, the short-interest ratio is presently 0.0 days.

The Gabelli Dividend & Income Trust Stock Performance

Shares of The Gabelli Dividend & Income Trust stock traded down $0.17 on Tuesday, hitting $29.23. 150,243 shares of the company traded hands, compared to its average volume of 114,082. The Gabelli Dividend & Income Trust has a 52 week low of $26.14 and a 52 week high of $31.00. The stock’s 50 day moving average price is $30.03 and its 200-day moving average price is $29.09.

The Gabelli Dividend & Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 11th will be given a $0.15 dividend. This represents a c) annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, December 11th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Compound Planning Inc. raised its holdings in The Gabelli Dividend & Income Trust by 2.6% in the first quarter. Compound Planning Inc. now owns 16,170 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 406 shares in the last quarter. Wedbush Securities Inc. lifted its position in The Gabelli Dividend & Income Trust by 3.5% during the second quarter. Wedbush Securities Inc. now owns 14,371 shares of the financial services provider’s stock valued at $423,000 after acquiring an additional 481 shares during the last quarter. Gables Capital Management Inc. boosted its stake in The Gabelli Dividend & Income Trust by 3.0% in the first quarter. Gables Capital Management Inc. now owns 17,200 shares of the financial services provider’s stock valued at $463,000 after acquiring an additional 500 shares in the last quarter. HighTower Advisors LLC grew its holdings in The Gabelli Dividend & Income Trust by 1.1% in the fourth quarter. HighTower Advisors LLC now owns 58,662 shares of the financial services provider’s stock worth $1,629,000 after purchasing an additional 633 shares during the last quarter. Finally, Private Wealth Partners LLC increased its position in shares of The Gabelli Dividend & Income Trust by 0.8% during the first quarter. Private Wealth Partners LLC now owns 94,859 shares of the financial services provider’s stock worth $2,555,000 after purchasing an additional 750 shares in the last quarter.

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.