GDV.PR.K: A Rates Play, Reiterate 'Buy' Rating [Seeking Alpha]
Gabelli Dividend & Income Trust Common Shares of Beneficial Interest (GDV)
US:NYSE Investor Relations:
gabelli.com/funds/products/-114.html
Company Research
Source: Seeking Alpha
The preferred shares of GDV, specifically Series K, still offer a good buying opportunity due to the recent increase in rates. Series K has the longest duration and has been heavily affected by the increase in rates, but the current bout of higher yields is expected to be over. The Series K benefits from asset coverage requirements as demanded by the 1940 Act, which ensures credit risk is minimal. The shares are trading with a discount to liquidation preference of over -25%, indicating the market is now pricing the Series K as having a very high duration. Thesis We have recently downgraded the common shares of the Gabelli Dividend & Income Trust ( GDV ) CEF to 'Hold' from 'Buy', after a very compelling total return for the name. In the article, we mentioned the preferred shares for the CEF, which we have not covered in almost two years. The GDV preferred equity has a different risk/reward profile, and while the common shares no longer offer an appealing entry point, the CEF
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High impacting Gabelli Dividend & Income Trust Common Shares of Beneficial Interest news events
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GDV
News
- Gabelli Dividend & Income Trust Continues Monthly Distributions, Declares Distributions of $0.11 Per ShareGlobeNewswire
- GDV: Discount Remains Wide, Distribution Remains Steady [Seeking Alpha]Seeking Alpha
- GDV: No Longer An Attractive Entry Point (Rating Downgrade) [Seeking Alpha]Seeking Alpha
- Gabelli Dividend & Income Trust Nominates Media and Communications Veteran Robert P. Astorino for Election to Board of Trustees [Yahoo! Finance]Yahoo! Finance
- Gabelli Dividend & Income Trust Nominates Media and Communications Veteran Robert P. Astorino for Election to Board of TrusteesGlobeNewswire
GDV
Sec Filings
- 4/3/24 - Form DEFR14A
- 3/21/24 - Form DEF
- 3/21/24 - Form DEFA14A
- GDV's page on the SEC website