Mario J. Gabelli, a director and control person of the adviser for Gabelli Dividend & Income Trust (NYSE:GDV), recently acquired 200 common shares of the trust, according to a filing with the Securities and Exchange Commission. The shares were purchased on October 16 at an average price of $24.9359 each, totaling approximately $4,987. Following this transaction, Gabelli holds 143,512 shares directly. Additionally, he has indirect holdings through GGCP, Inc. and Associated Capital Group (NYSE:), Inc., amounting to 10,000 and 626,000 shares, respectively. Gabelli disclaims beneficial ownership of shares held by these entities that exceed his indirect pecuniary interest.
InvestingPro Insights
Mario J. Gabelli’s recent purchase of Gabelli Dividend & Income Trust (NYSE:GDV) shares aligns with several positive indicators highlighted by InvestingPro. The trust’s stock is currently trading near its 52-week high, with a robust 37.94% total return over the past year. This performance suggests strong investor confidence and momentum in the trust’s strategy.
GDV’s commitment to shareholder returns is evident in its impressive 21-year streak of maintaining dividend payments. With a current dividend yield of 5.3%, the trust offers an attractive income proposition for investors seeking steady cash flows. This consistent dividend history underscores the trust’s financial stability and management’s commitment to returning value to shareholders.
The trust’s financial health is further reinforced by its liquid assets exceeding short-term obligations, indicating a strong balance sheet position. This financial flexibility allows GDV to navigate market fluctuations while maintaining its dividend policy.
For investors considering GDV, it’s worth noting that InvestingPro offers additional insights, with 6 more tips available for a comprehensive analysis of the trust’s investment potential. These tips could provide valuable context for understanding GDV’s market position and future prospects.
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