SMH Capital Advisors Inc. Lowers Stake in The Gabelli Dividend & Income Trust (NYSE:GDV)

SMH Capital Advisors Inc. trimmed its position in The Gabelli Dividend & Income Trust (NYSE:GDV) by 5.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 9,671 shares of the financial services provider’s stock after selling 524 shares during the quarter. SMH Capital Advisors Inc.’s holdings in The Gabelli Dividend & Income Trust were worth $236,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cornerstone Advisors LLC increased its holdings in shares of The Gabelli Dividend & Income Trust by 17.0% in the second quarter. Cornerstone Advisors LLC now owns 1,649,457 shares of the financial services provider’s stock valued at $37,459,000 after purchasing an additional 239,758 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in The Gabelli Dividend & Income Trust by 1.9% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 577,528 shares of the financial services provider’s stock valued at $13,116,000 after buying an additional 10,944 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of The Gabelli Dividend & Income Trust by 2,345.0% in the 3rd quarter. International Assets Investment Management LLC now owns 352,080 shares of the financial services provider’s stock worth $8,608,000 after acquiring an additional 337,680 shares during the last quarter. Logan Stone Capital LLC raised its holdings in shares of The Gabelli Dividend & Income Trust by 21.8% during the 2nd quarter. Logan Stone Capital LLC now owns 208,466 shares of the financial services provider’s stock worth $4,734,000 after acquiring an additional 37,363 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of The Gabelli Dividend & Income Trust by 21.4% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 184,946 shares of the financial services provider’s stock valued at $4,200,000 after acquiring an additional 32,553 shares during the last quarter.

Insider Transactions at The Gabelli Dividend & Income Trust

In other The Gabelli Dividend & Income Trust news, insider Mario J. Gabelli acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was bought at an average cost of $24.90 per share, for a total transaction of $49,800.00. Following the completion of the transaction, the insider now owns 10,000 shares of the company’s stock, valued at approximately $249,000. The trade was a 25.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders bought 3,134,000 shares of company stock worth $31,369,800 in the last 90 days.

The Gabelli Dividend & Income Trust Price Performance

Shares of GDV opened at $24.61 on Wednesday. The Gabelli Dividend & Income Trust has a 12-month low of $19.68 and a 12-month high of $25.33. The firm has a 50-day moving average price of $24.42 and a 200 day moving average price of $23.51.

The Gabelli Dividend & Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.36%.

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.