The Gabelli Dividend & Income Trust (NYSE:GDV) is Cornerstone Advisors LLC’s 9th Largest Position

Cornerstone Advisors LLC boosted its holdings in The Gabelli Dividend & Income Trust (NYSE:GDV) by 17.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 1,649,457 shares of the financial services provider’s stock after purchasing an additional 239,758 shares during the quarter. The Gabelli Dividend & Income Trust makes up approximately 1.5% of Cornerstone Advisors LLC’s portfolio, making the stock its 9th largest holding. Cornerstone Advisors LLC’s holdings in The Gabelli Dividend & Income Trust were worth $37,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Larson Financial Group LLC bought a new stake in shares of The Gabelli Dividend & Income Trust in the second quarter worth about $27,000. Bessemer Group Inc. purchased a new stake in shares of The Gabelli Dividend & Income Trust during the 1st quarter worth approximately $33,000. Wetzel Investment Advisors Inc. bought a new position in shares of The Gabelli Dividend & Income Trust during the 2nd quarter valued at approximately $71,000. Vima LLC purchased a new position in shares of The Gabelli Dividend & Income Trust in the fourth quarter valued at $132,000. Finally, Private Wealth Advisors LLC bought a new stake in The Gabelli Dividend & Income Trust in the first quarter worth $203,000.

The Gabelli Dividend & Income Trust Stock Up 1.1 %

The Gabelli Dividend & Income Trust stock opened at $23.83 on Monday. The Gabelli Dividend & Income Trust has a 52-week low of $18.04 and a 52-week high of $24.09. The firm’s fifty day moving average is $23.37 and its 200 day moving average is $22.79.

The Gabelli Dividend & Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 13th will be given a dividend of $0.11 per share. This represents a $1.32 annualized dividend and a dividend yield of 5.54%. The ex-dividend date is Friday, December 13th.

Insider Activity at The Gabelli Dividend & Income Trust

In related news, insider Mario J. Gabelli acquired 3,280 shares of The Gabelli Dividend & Income Trust stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $22.91 per share, with a total value of $75,144.80. Following the completion of the purchase, the insider now directly owns 142,592 shares of the company’s stock, valued at approximately $3,266,782.72. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

About The Gabelli Dividend & Income Trust

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.