Gabelli Dividend & Income Trust (GDV) Stock

RYE, N.Y., Nov. 14, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of The Gabelli Dividend & Income Trust (NYSE:GDV) (the “Fund”) approved the continuation of its policy of paying fixed monthly cash distributions. The Board of Trustees declared cash distributions of $0.11 per share for each of January, February, and March 2025.

RYE, N.Y., Oct. 18, 2024 (GLOBE NEWSWIRE) -- Gabelli Dividend & Income Trust (NYSE: GDV) (the “Fund”) announced today that GAMCO Investors, Inc. (“GAMCO”) (OTCQX: GAMI) and affiliates purchased $107 million of the Fund's Series M Cumulative Preferred Shares (“Series M Preferred”). The Series M preferred carries a 4.80% dividend rate, is puttable/callable in December 2025 and has a mandatory redemption in December 2026.

Gabelli Dividend & Income Trust offers a stable, modest monthly distribution with a deep discount and value-oriented portfolio. GDV's discount to NAV has narrowed since our last update but remains relatively attractive based on its historical level. Saba Capital Management, a well-known activist group, has taken an initial stake in the fund, which could push for some changes in the future.

GDV.PR.K are preferred shares issued by Gabelli Dividend & Income Trust. The securities have a high duration, making them sensitive to interest rates. The share has recently outperformed the S&P 500 due to falling interest rates. I believe that most of the easy gains from falling rates are now behind us.

RYE, N.Y., Aug. 23, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of The Gabelli Dividend & Income Trust (NYSE:GDV) (the “Fund”) approved the continuation of its policy of paying fixed monthly cash distributions. The Board of Trustees declared cash distributions of $0.11 per share for each of October, November, and December 2024.

Gabelli Dividend & Income Trust has a low yield of 5.76%, lower than most of U.S. equity-focused closed-end fund peers. The fund has delivered a 30.69% total return since late October 2023, outperforming the S&P 500 Index. The fund employs mostly a buy-and-hold strategy, and most of its largest holdings have performed pretty well over the past several months.

Closed-end funds (CEFs)—our favorite 8%+ yielding investments—have a new (and popular!) fan. And he's making a big move I see sending CEF prices higher.

The Gabelli Dividend & Income Trust is a closed-end fund that focuses on diversified equity and follows a value-oriented strategy. Despite typically trading at a significant discount, this discount has increased in recent years. Investors can expect a reliable monthly distribution from GDV, which is expected to continue unless a rare and prolonged unforeseen event occurs.

The common shares of the Gabelli Dividend & Income Trust have been changed to a 'Hold' rating from a 'Buy'. However, the preferred shares of GDV, particularly Series K, still present a favorable buying opportunity as a result of the recent rise in rates. Series K, which has the longest duration, has been significantly impacted by the rate increase, but it is anticipated that the current period of higher yields will soon come to an end.