GAMCO Investors Files SC 13D for Gabelli Dividend & Income Trust

TL;DR

**GAMCO filing 13D on GABELLI DIVIDEND & INCOME TRUST - ownership change alert!**

AI Summary

GAMCO Investors, Inc. filed an SC 13D on October 18, 2024, regarding its holdings in The Gabelli Dividend & Income Trust. The filing indicates a change in beneficial ownership of common shares and preferred shares, with GAMCO Investors, Inc. acting as the filer. Specific details on the exact percentage of ownership change or dollar amounts are not immediately available in this excerpt.

Why It Matters

This filing signals a potential shift in control or significant investment activity by GAMCO Investors in The Gabelli Dividend & Income Trust, which could impact the trust's strategic direction and shareholder value.

Risk Assessment

Risk Level: medium — SC 13D filings often indicate significant stake-building or changes in control, which can lead to volatility and strategic shifts for the company involved.

Key Players & Entities

• GAMCO Investors, Inc. (company) — Filer of the SC 13D
• The Gabelli Dividend & Income Trust (company) — Subject company of the SC 13D
• David Goldman (person) — Authorized contact for GAMCO Investors, Inc.

FAQ

Key Financial Figures

• $107,115,000 — sons used an aggregate of approximately $107,115,000 to purchase the Series M shares reporte
• $4,000,000 — ate placement. GAMCO used approximately $4,000,000 of funds that were provided through the
• $31,000,000 — for such clients. AC used approximately $31,000,000 of its working capital to purchase the
• $19,000,000 — ed by it. Foundation used approximately $19,000,000 of its funds to purchase the Series M s
• $15,000,000 — reported by it. GGCP used approximately $15,000,000 of working capital to purchase the Seri
• $32,115,000 — by it. Mario Gabelli used approximately $32,115,000 of personal funds to purchase the Serie
• $6,000,000 — reported by him. GBL used approximately $6,000,000 of working capital to purchase the Seri

Filing Documents

• gdv_00.htm (SC 13D) — 155KB
• 0000807249-24-000141.txt ( ) — 157KB

Security and Issuer

Item 1. Security and Issuer The class of equity securities to which this statement on Schedule 13D relates is the Common Shares, 5.375% Series H Cumulative Preferred Shares, the Series J Cumulative Term Preferred Shares, the 4.250% Series K Cumulative Preferred Shares & the 4.80% Series M Cumulative Preferred Shares ("Preferred Shares") of The Gabelli Dividend & Income Trust (the "Issuer"), a Delaware statutory trust with principal offices located at One Corporate Center, Rye, New York 10580.

Identity and Background

Item 2. Identity and Background This statement is being filed by various entities which except for LICT Corporation ("LICT) and CIBL, Inc. ("CIBL"), engage in various aspects of the securities business, primarily as investment adviser to various institutional and individual clients, including registered investment companies and pension plans, and as general partner or the equivalent of various private investment partnerships or private funds and as a registered broker-dealer. Certain of these entities may also make investments for their own accounts. Mario J. Gabelli ("Mario Gabelli") is deemed to directly or indirectly control these entities through his ownership interest. The foregoing persons in the aggregate often own beneficially more than 5% of a class of equity securities of a particular issuer. Although several of the foregoing persons are treated as institutional investors for purposes of reporting their beneficial ownership on the short-form Schedule 13G, the holdings of those who do not qualify as institutional investors may exceed the 1% threshold presented for filing on Schedule 13G or implementation of their investment philosophy may from time to time require action which could be viewed as not completely passive. In order to avoid any question as to whether their beneficial than on the short-form Schedule 13G and thereby to provide more expansive disclosure than may be necessary. (a), (b) and (c) - This statement is being filed by one or more of the following persons: GGCP, Inc. ("GGCP"), GGCP Holdings LLC ("GGCP Holdings"), GAMCO Investors, Inc. ("GBL"), Associated Capital Group, Inc. ("AC"), Gabelli Funds, LLC ("Gabelli Funds"), GAMCO Asset Management Inc. ("GAMCO"), Teton Advisors, LLC ("Teton Advis

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration The Reporting Persons used an aggregate of approximately $107,115,000 to purchase the Series M shares reported as beneficially owned in Item 5 in a private placement. GAMCO used approximately $4,000,000 of funds that were provided through the accounts of certain of its investment advisory clients (and, in the case of some of such accounts at GAMCO, may be through borrowings from client margin accounts) in order to purchase the Series M shares for such clients. AC used approximately $31,000,000 of its working capital to purchase the Series M shares reported by it. Foundation used approximately $19,000,000 of its funds to purchase the Series M shares reported by it. GGCP used approximately $15,000,000 of working capital to purchase the Series M shares reported by it. Mario Gabelli used approximately $32,115,000 of personal funds to purchase the Series M shares reported by him. GBL used approximately $6,000,000 of working capital to purchase the Series M shares reported by it.

Purpose of Transaction

Item 4. Purpose of Transaction Each of the Reporting Persons has purchased and holds the Securities reported by it for investment for one or more accounts over which it has shared, sole, or both investment and/or voting power, for its own account, or both. Certain of the Reporting Persons are engaged in the business of securities analysis and investment. These persons and certain of their Affiliates engaged in such business, analyze the operations, capital structure and markets of companies in which they invest, including the Issuer, on a continuous basis through analysis of documentation and discussions with knowledgeable industry and market observers and with representatives of such companies (often at the invitation of management). As a result of these analytical activities one or more of the such persons may issue analysts reports, participate in interviews or hold discussions with third parties or with management in which the such person may suggest or take a position with respect to potential changes in the operations, management or capital structure of such companies as a means of enhancing shareholder values. Such suggestions or positions may relate to one or more of the transactions specified in clauses (a) through (j) of Item 4 of Schedule 13D including, without limitation, such matters as disposing of one or more businesses, selling the company or acquiring another company or business, changing operating or marketing strategies, adopting or not adopting, certain types of anti-takeover measures and restructuring the company's capitalization or dividend policy. Each Reporting Person will continuously assess the Issuer's business, financial condition, results of operations and prospects, general economic conditions, the securities markets in general and those for the Issuer's securities in particular, other developments and other investment opportunities, as well as the investment objectives and diversification requirements of its shareholders. Each of

Interest In Securities Of The Issuer

Item 5. Interest In Securities Of The Issuer (a) The aggregate number of Securities to which this Schedule 13D relates is 780,899 Common Shares representing 0.87% of the 89,213,241 Common Shares outstanding as reported by the Issuer and 10,711,500 Preferred Shares representing 47.44% of the 22,580,582 Preferred Shares outstanding as reported by the Issuer. The Reporting Persons beneficially own those Securities as follows: Name Common shares Common % Preferred shares Preferred % Mario Gabelli GAMCO Foundation AC GGCP GBL 143,312 3,586 0 626,000 8,000 0 0.16% 0.00% 0.00% 0.70% 0.01% 0.00% 3,211,500 400,000 1,900,000 3,100,000 1,500,000 600,000 14.22% 1.77% 8.41% 13.73% 6.64% 2.66% Mario Gabelli is deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons. AC, GBL and GGCP are deemed to have beneficial ownership of the Securities owned beneficially by each of the foregoing persons other than Mario Gabelli and the Foundation. (b) Each of the Reporting Persons and Covered Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition of the Securities reported for it, either for its own benefit or for the benefit of its investment clients or its partners, as the case may be. (c) Information with respect to all transactions in the Securities which were effected during the past sixty days or since the most recent filing on Schedule 13D, whichever is less, by each of the Reporting Persons and Covered Persons is set forth on Schedule II annexed hereto and incorporated herein by reference. (d) None. (e) Not applicable.

Material to be Filed as an Exhibit

Item 7. Material to be Filed as an Exhibit The following Exhibit A is attached hereto. The following Exhibit B is incorporated by reference to Exhibit B in the Initial Schedule 13D of the Reporting Persons with respect to Lincare Holdings Inc. Exhibit A: Joint Filing Agreement Exhibit B: Powers of Attorney to David M. Goldman and Douglas R. Jamieson from Mario J. Gabelli individually and/or as an executive officer or director of any entity of which Mr. Gabelli serves. 8 Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: October 18, 2024 GGCP, INC. GABELLI FOUNDATION, INC. MARIO J. GABELLI By: /s/ David Goldman David Goldman Attorney-in-Fact GAMCO INVESTORS, INC. By: /s/ Peter D. Goldstein Peter D. Goldstein General Counsel – GAMCO Investors, Inc. ASSOCIATED CAPITAL GROUP, INC. GAMCO ASSET MANAGEMENT INC. By: /s/ Douglas R. Jamieson Douglas R. Jamieson President & Chief Executive Officer – Associated Capital Group, Inc. President – GAMCO Asset Management Inc. 9 Schedule I Information with Respect to Executive Officers and Directors of the Undersigned Schedule I to Schedule 13D is amended, in pertinent part, as follows: The following sets forth as to each of the executive officers and directors of the undersigned: his name; his business address; his present principal occupation or employment and the name, principal business and address of any corporation or other organization in which such employment is conducted. Unless otherwise specified, the principal employer of each such individual is GAMCO Asset Management Inc., Gabelli Funds, LLC, G.research, LLC, Teton Advisors, LLC, or GAMCO Investors, Inc., the business address of each of which is One Corporate Center, Rye, New York 10580, or Gabelli & Company Investment Advisers, Inc. or Associated Capital Group, Inc., the business address of each of which is 1

View Full Filing

View this SC 13D filing on SEC EDGAR