Cornerstone Advisors LLC Lowers Position in The Gabelli Dividend & Income Trust (NYSE:GDV)

Cornerstone Advisors LLC lessened its stake in shares of The Gabelli Dividend & Income Trust (NYSE:GDV) by 96.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 60,122 shares of the financial services provider’s stock after selling 1,589,335 shares during the period. Cornerstone Advisors LLC’s holdings in The Gabelli Dividend & Income Trust were worth $1,470,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Larson Financial Group LLC bought a new position in shares of The Gabelli Dividend & Income Trust during the 2nd quarter valued at approximately $27,000. Bessemer Group Inc. bought a new position in shares of The Gabelli Dividend & Income Trust in the first quarter worth approximately $33,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of The Gabelli Dividend & Income Trust in the second quarter worth $71,000. CWM LLC increased its stake in shares of The Gabelli Dividend & Income Trust by 11.6% in the third quarter. CWM LLC now owns 5,227 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 545 shares in the last quarter. Finally, Constitution Capital LLC bought a new stake in shares of The Gabelli Dividend & Income Trust during the 3rd quarter valued at $203,000.

The Gabelli Dividend & Income Trust Stock Up 0.8 %

Shares of The Gabelli Dividend & Income Trust stock opened at $24.89 on Friday. The Gabelli Dividend & Income Trust has a fifty-two week low of $20.05 and a fifty-two week high of $25.33. The company has a fifty day moving average of $24.47 and a 200 day moving average of $23.52.

The Gabelli Dividend & Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be given a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.30%. The ex-dividend date of this dividend is Monday, March 17th.

Insider Activity at The Gabelli Dividend & Income Trust

In related news, insider Mario J. Gabelli acquired 3,131,500 shares of The Gabelli Dividend & Income Trust stock in a transaction dated Friday, October 11th. The shares were purchased at an average price of $10.00 per share, for a total transaction of $31,315,000.00. Following the completion of the transaction, the insider now directly owns 3,131,500 shares in the company, valued at approximately $31,315,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have acquired 3,134,000 shares of company stock valued at $31,369,800.

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.