Shaker Financial Services LLC Takes Position in The Gabelli Dividend & Income Trust $GDV

Shaker Financial Services LLC bought a new position in shares of The Gabelli Dividend & Income Trust (NYSE:GDV) during the 3rd quarter, HoldingsChannel reports. The fund bought 34,581 shares of the financial services provider’s stock, valued at approximately $938,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Karpus Management Inc. lifted its position in The Gabelli Dividend & Income Trust by 0.9% during the second quarter. Karpus Management Inc. now owns 1,788,008 shares of the financial services provider’s stock worth $46,506,000 after purchasing an additional 15,299 shares during the period. Raymond James Financial Inc. raised its position in shares of The Gabelli Dividend & Income Trust by 2.3% in 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 buying an additional 31,024 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of The Gabelli Dividend & Income Trust by 8.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 685,066 shares of the financial services provider’s stock worth $18,586,000 after acquiring an additional 52,201 shares during the period. Advisors Asset Management Inc. boosted its position in shares of The Gabelli Dividend & Income Trust by 0.6% during the 2nd quarter. Advisors Asset Management Inc. now owns 497,372 shares of the financial services provider’s stock worth $12,937,000 after acquiring an additional 3,072 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in The Gabelli Dividend & Income Trust by 0.7% in the second quarter. Steward Partners Investment Advisory LLC now owns 298,809 shares of the financial services provider’s stock valued at $7,772,000 after acquiring an additional 2,158 shares during the last quarter.

Insider Activity at The Gabelli Dividend & Income Trust

In related news, insider Mario J. Gabelli purchased 3,600,000 shares of The Gabelli Dividend & Income Trust stock in a transaction dated Friday, December 26th. The shares were bought at an average cost of $10.00 per share, for a total transaction of $36,000,000.00. Following the purchase, the insider owned 3,600,000 shares in the company, valued at approximately $36,000,000. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 5,823,500 shares of company stock valued at $58,317,450 over the last three months.

The Gabelli Dividend & Income Trust Stock Performance

Shares of GDV opened at $28.23 on Wednesday. The firm has a 50 day simple moving average of $27.23 and a two-hundred day simple moving average of $26.88. The Gabelli Dividend & Income Trust has a one year low of $20.10 and a one year high of $28.27.

The Gabelli Dividend & Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be given a $0.15 dividend. This represents a c) dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Tuesday, March 17th.

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.