The Gabelli Dividend & Income Trust (NYSE:GDV) Stock Passes Above 50 Day Moving Average – What’s Next?

Shares of The Gabelli Dividend & Income Trust (NYSE:GDV) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $27.62 and traded as high as $28.74. The Gabelli Dividend & Income Trust shares last traded at $28.64, with a volume of 120,620 shares traded.

The Gabelli Dividend & Income Trust Stock Performance

The stock’s 50 day moving average price is $27.62 and its 200-day moving average price is $27.11.

The Gabelli Dividend & Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be paid a $0.15 dividend. This represents a c) dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Tuesday, March 17th.

Insider Activity at The Gabelli Dividend & Income Trust

In related news, insider Mario J. Gabelli purchased 3,600,000 shares of the firm’s stock in a transaction dated Friday, December 26th. The stock was purchased at an average price of $10.00 per share, with a total value of $36,000,000.00. Following the completion of the purchase, the insider owned 3,600,000 shares of the company’s stock, valued at approximately $36,000,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have purchased 5,823,500 shares of company stock worth $58,317,450 over the last 90 days.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Shaker Financial Services LLC lifted its holdings in shares of The Gabelli Dividend & Income Trust by 113.4% in the 4th quarter. Shaker Financial Services LLC now owns 73,792 shares of the financial services provider’s stock worth $2,049,000 after buying an additional 39,211 shares during the period. CWM LLC raised its holdings in shares of The Gabelli Dividend & Income Trust by 20.1% in the fourth quarter. CWM LLC now owns 6,392 shares of the financial services provider’s stock valued at $177,000 after acquiring an additional 1,071 shares in the last quarter. Grandview Asset Management LLC purchased a new stake in The Gabelli Dividend & Income Trust in the fourth quarter worth about $453,000. MRA Advisory Group grew its holdings in The Gabelli Dividend & Income Trust by 6.5% during the 4th quarter. MRA Advisory Group now owns 10,074 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 615 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in The Gabelli Dividend & Income Trust by 0.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 687,247 shares of the financial services provider’s stock valued at $19,085,000 after purchasing an additional 2,181 shares during the period.

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.