GDV: An Undercovered Steady Income Fund

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About: Gabelli Dividend & Income Trust (The) (GDV)
by: Closed End Fund Tracker
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Closed-end funds, dividend growth investing, dividend investing, portfolio strategy
Summary

GDV is an undercovered steady monthly dividend payer currently yielding 6.3%.  It produces this yield using a classic large cap value approach, with a bias towards dividend paying stocks.

Management is invested in the fund, and recently increased their holdings in a rights offering.

Long run total return performance has been mediocre, although its investing approach is conservative and value investing has been generally out of favor for a long time.

The current 11% discount is higher than historical average.  Management has an open stock buyback plan when the discount exceeds 7.5%.

Gabelli Dividend & Income Trust (GDV) has been a steady performer and reliable dividend payer since it launched in 2004. Its only major dividend reduction was during the financial crisis. GDV pays monthly