Gabelli Trust Director Buys GDV Shares; Fund Expands Series M Preferred Authorization and Signals Use of White Proxy Card

Anthony S. Colavita purchased 684 GDV shares; the trust raised authorized Series M preferred shares to 30 million and plans to employ a white proxy card at the 2026 annual meeting

By Ajmal Hussain GDV

Gabelli Trust Director Buys GDV Shares; Fund Expands Series M Preferred Authorization and Signals Use of White Proxy Card

GDV

Director Anthony S. Colavita bought 684 shares of Gabelli Dividend & Income Trust (NYSE: GDV) on February 9, 2026, for a total of $19,969, according to a Form 4 filed with the SEC. Separately, the fund amended its Statement of Preferences to authorize 10 million additional Series M Preferred Shares, increasing the total authorized to 30 million, and disclosed plans to use a white proxy card for its 2026 annual meeting.

Key Points

Director Anthony S. Colavita bought 684 shares of GDV on February 9, 2026, for a total of $19,969 - impacts equity holdings within the closed-end fund sector.
Gabelli Dividend & Income Trust amended its Statement of Preferences to authorize an additional 10 million Series M Preferred Shares, taking total authorized Series M to 30 million - relevant to capital structure and preferred equity issuance in asset management.
The trust has indicated it will use a white proxy card for its 2026 annual meeting; no details on agenda or timing were provided - affecting shareholder meeting processes and governance communications.

Director Anthony S. Colavita acquired 684 shares of Gabelli Dividend & Income Trust (NYSE: GDV) on February 9, 2026, according to a Form 4 filing submitted to the Securities and Exchange Commission. The transaction was executed at a per-share price of $29.1959, bringing the aggregate value of the purchase to $19,969.

Separately, Gabelli Dividend & Income Trust disclosed amendments to its corporate preferences and proxy approach in filings with the SEC. The trust has revised its Statement of Preferences to authorize an additional 10,000,000 Series M Preferred Shares, raising the total authorized Series M Preferred Shares to 30,000,000.

As noted in the filings, as of December 11, 2025, the fund had 16,850,000 Series M Preferred Shares issued and outstanding. Based on the newly authorized total, that leaves 13,150,000 Series M Preferred Shares available for future issuance under the amended authorization. The change was disclosed in a press release that was filed with the SEC.

In a separate regulatory filing, the Gabelli Dividend & Income Trust indicated its intention to use a white proxy card for the fund's 2026 annual meeting of shareholders. The filing did not include further specifics regarding the meeting's agenda or the timing of the event.

The record presented in these filings is factual and limited to the transactions and corporate actions described. The Form 4 documents the director's purchase of common shares on the date and at the price stated. The Statement of Preferences amendment and the reported counts of issued and outstanding Series M Preferred Shares establish the updated authorization totals and the number of shares remaining available for issuance under that authorization. The regulatory filing regarding the proxy card communicates the fund's planned mechanism for soliciting shareholder votes for the 2026 meeting, without additional detail on topics to be considered or meeting scheduling.

All disclosures referenced here were made through filings and a press release submitted to the Securities and Exchange Commission; no additional commentary or context was provided in those documents about motives, timing beyond the dates stated, or expected outcomes of the actions described.

Risks

Limited disclosure on the timing and agenda of the 2026 annual meeting creates uncertainty for shareholders and market participants - affects governance and investor relations in the asset management sector.
The additional authorization of Series M Preferred Shares means up to 13,150,000 shares remain available for issuance under the new cap, which could lead to future changes in the fund's capital structure if issued - relevant to existing preferred and common shareholders in financial markets.
Public filings provide factual counts and intentions but do not include management commentary on motivations or intended uses for the newly authorized shares, leaving open questions about potential future actions by the fund.

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Gabelli Trust Director Buys GDV Shares; Fund Expands Series M Preferred Authorization and Signals Use of White Proxy Card

Key Points

Risks

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