Bank of America Corp DE Trims Stake in The Gabelli Dividend & Income Trust (NYSE:GDV)

Bank of America Corp DE cut its position in The Gabelli Dividend & Income Trust (NYSE:GDV) by 8.2% in the fourth quarter, Holdings Channel reports. The firm owned 735,034 shares of the financial services provider’s stock after selling 65,954 shares during the period. Bank of America Corp DE’s holdings in The Gabelli Dividend & Income Trust were worth $17,751,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in The Gabelli Dividend & Income Trust in the fourth quarter valued at approximately $31,727,000. GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of The Gabelli Dividend & Income Trust in the 4th quarter valued at $15,118,000. Sit Investment Associates Inc. raised its position in The Gabelli Dividend & Income Trust by 91.5% in the 4th quarter. Sit Investment Associates Inc. now owns 847,280 shares of the financial services provider’s stock valued at $20,462,000 after purchasing an additional 404,940 shares during the last quarter. Jones Road Capital Management L.P. acquired a new stake in The Gabelli Dividend & Income Trust during the 4th quarter worth $4,830,000. Finally, LPL Financial LLC boosted its stake in The Gabelli Dividend & Income Trust by 27.0% during the 4th quarter. LPL Financial LLC now owns 408,500 shares of the financial services provider’s stock worth $9,865,000 after purchasing an additional 86,810 shares during the period.

The Gabelli Dividend & Income Trust Stock Performance

NYSE GDV opened at $25.09 on Wednesday. The Gabelli Dividend & Income Trust has a one year low of $20.10 and a one year high of $25.67. The firm’s fifty day moving average is $23.51 and its two-hundred day moving average is $24.31.

The Gabelli Dividend & Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 23rd. Investors of record on Tuesday, September 16th will be given a $0.14 dividend. This represents a $1.68 annualized dividend and a yield of 6.70%. The ex-dividend date of this dividend is Tuesday, September 16th.

About The Gabelli Dividend & Income Trust

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.