Wedbush Securities Inc. Trims Position in The Gabelli Dividend & Income Trust (NYSE:GDV)

Wedbush Securities Inc. trimmed its holdings in The Gabelli Dividend & Income Trust (NYSE:GDV) by 55.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 14,211 shares of the financial services provider’s stock after selling 17,374 shares during the period. Wedbush Securities Inc.’s holdings in The Gabelli Dividend & Income Trust were worth $343,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in The Gabelli Dividend & Income Trust during the fourth quarter worth about $31,727,000. Sit Investment Associates Inc. grew its position in The Gabelli Dividend & Income Trust by 91.5% during the fourth quarter. Sit Investment Associates Inc. now owns 847,280 shares of the financial services provider’s stock worth $20,462,000 after buying an additional 404,940 shares during the period. Advisors Asset Management Inc. grew its position in The Gabelli Dividend & Income Trust by 0.3% during the fourth quarter. Advisors Asset Management Inc. now owns 479,490 shares of the financial services provider’s stock worth $11,580,000 after buying an additional 1,482 shares during the period. LPL Financial LLC grew its position in The Gabelli Dividend & Income Trust by 27.0% during the fourth quarter. LPL Financial LLC now owns 408,500 shares of the financial services provider’s stock worth $9,865,000 after buying an additional 86,810 shares during the period. Finally, Steward Partners Investment Advisory LLC grew its position in The Gabelli Dividend & Income Trust by 3.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 296,786 shares of the financial services provider’s stock worth $7,167,000 after buying an additional 9,779 shares during the period.

The Gabelli Dividend & Income Trust Stock Performance

Shares of GDV opened at $22.76 on Thursday. The firm’s 50-day moving average is $24.17 and its two-hundred day moving average is $24.49. The Gabelli Dividend & Income Trust has a twelve month low of $20.10 and a twelve month high of $25.67.

The Gabelli Dividend & Income Trust Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.14 per share. The ex-dividend date is Tuesday, April 15th.

Insiders Place Their Bets

In related news, insider Mario J. Gabelli bought 2,300 shares of the stock in a transaction on Friday, January 17th. The shares were bought at an average cost of $24.83 per share, for a total transaction of $57,109.00. Following the completion of the transaction, the insider now owns 145,812 shares of the company’s stock, valued at $3,620,511.96. This represents a 1.60 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

The Gabelli Dividend & Income Trust 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.