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JUNE 6, 2019. Gabelli Dividend & Income Trust GDV, a closed end fund, is offering a new issue of preferred stock.

The temporary ticker is GDVVP and we will be buying today. The permanent ticker is GDV-H. This is investment grade so if you want higher quality issues, this is the one for you. The price right now is $25.12 and pays a relatively low 5.3%.

The shares will be cumulative and will pay on the normal quarterly dividend schedule.

FUND DESCRIPTION:  The Gabelli Dividend & Income Trust is an exchange-traded closed-end fund (CEF) or a closed-end ETF that is officially described as a non-diversified, closed-end management investment company. INVESTMENT OBJECTIVE: The Gabelli Dividend & Income Trust seeks a high level of total return with an emphasis on dividends and income. FUND STRATEGY: Under normal market conditions, the Fund invests at least 80% of its assets in dividend paying or other income producing securities. In addition, under normal market conditions, at least 50% of the Fund’s assets will consist of dividend paying equity securities. In making stock selections, the Fund’s investment adviser looks for securities that have a superior yield, as well as capital gains potential. FUND MANAGEMENT: Gabelli Funds, LLC serves as investment adviser to the Fund.


NOTE TO NEW READERS:  Before you buy anything we discuss here, GO to the Core Portfolio tab to see a CURRENT listing of holdings. This blog is designed for investors seeking income.

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