1607 Capital Partners LLC Reduces Position in The Gabelli Dividend & Income Trust $GDV

1607 Capital Partners LLC trimmed its position in shares of The Gabelli Dividend & Income Trust (NYSE:GDV) by 21.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 92,047 shares of the financial services provider’s stock after selling 25,280 shares during the period. 1607 Capital Partners LLC’s holdings in The Gabelli Dividend & Income Trust were worth $2,497,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GDV. Karpus Management Inc. boosted its position in shares of 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 valued at $46,506,000 after buying an additional 15,299 shares during the period. Raymond James Financial Inc. boosted its holdings in The Gabelli Dividend & Income Trust by 2.3% during 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 acquiring an additional 31,024 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in 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 valued at $18,586,000 after acquiring an additional 52,201 shares during the period. Advisors Asset Management Inc. grew its position in The Gabelli Dividend & Income Trust by 1.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 504,378 shares of the financial services provider’s stock valued at $13,684,000 after acquiring an additional 7,006 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in The Gabelli Dividend & Income Trust by 0.7% in the 2nd 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.

The Gabelli Dividend & Income Trust Trading Down 0.0%

GDV stock opened at $27.32 on Friday. The Gabelli Dividend & Income Trust has a twelve month low of $20.10 and a twelve month high of $29.46. The business’s fifty day simple moving average is $28.57 and its two-hundred day simple moving average is $27.63.

The Gabelli Dividend & Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Monday, June 15th will be paid a $0.15 dividend. This represents a c) annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Monday, June 15th.

Insider Activity

In related news, Director James P. Conn bought 1,000 shares of the company’s stock in a transaction on Tuesday, January 27th. The shares were acquired at an average cost of $28.73 per share, for a total transaction of $28,730.00. Following the purchase, the director directly owned 1,000 shares of the company’s stock, valued at approximately $28,730. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mario J. Gabelli bought 3,600,000 shares of the company’s stock in a transaction on Friday, December 26th. The stock was bought at an average price of $10.00 per share, for a total transaction of $36,000,000.00. Following the completion of the purchase, the insider directly owned 3,600,000 shares in the company, valued at approximately $36,000,000. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 5,830,584 shares of company stock worth $58,534,060 in the last ninety days.

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.