Bank of New York Mellon Corp boosted its stake in shares of Gamco Investors, Inc. (NYSE:GBL) by 5.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,674 shares of the closed-end fund’s stock after buying an additional 3,665 shares during the period. Bank of New York Mellon Corp owned about 0.25% of Gamco Investors worth $2,121,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in GBL. State Street Corp increased its position in shares of Gamco Investors by 0.5% in the fourth quarter. State Street Corp now owns 111,228 shares of the closed-end fund’s stock valued at $3,433,000 after buying an additional 561 shares during the last quarter. FMR LLC increased its position in shares of Gamco Investors by 300.0% in the fourth quarter. FMR LLC now owns 100,000 shares of the closed-end fund’s stock valued at $3,089,000 after buying an additional 75,000 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Gamco Investors by 46.1% in the fourth quarter. Renaissance Technologies LLC now owns 57,400 shares of the closed-end fund’s stock valued at $1,773,000 after buying an additional 18,100 shares during the last quarter. Greenwich Wealth Management LLC increased its position in shares of Gamco Investors by 7.4% in the first quarter. Greenwich Wealth Management LLC now owns 43,500 shares of the closed-end fund’s stock valued at $1,287,000 after buying an additional 3,000 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of Gamco Investors by 72.5% in the fourth quarter. Teachers Advisors LLC now owns 31,970 shares of the closed-end fund’s stock valued at $988,000 after buying an additional 13,441 shares during the last quarter. 15.70% of the stock is owned by hedge funds and other institutional investors.
Gamco Investors, Inc. (GBL) traded down 1.03% on Friday, hitting $30.88. 6,815 shares of the stock were exchanged. The company has a market cap of $892.56 million, a PE ratio of 8.01 and a beta of 1.06. Gamco Investors, Inc. has a 52 week low of $27.55 and a 52 week high of $34.90. The company’s 50-day moving average is $30.20 and its 200-day moving average is $29.68.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 11th. Shareholders of record on Tuesday, June 27th were given a dividend of $0.02 per share. The ex-dividend date was Friday, June 23rd. This represents a $0.08 dividend on an annualized basis and a yield of 0.26%. Gamco Investors’s payout ratio is presently 2.08%.
Separately, BidaskClub raised shares of Gamco Investors from a “sell” rating to a “hold” rating in a research note on Monday, July 24th.
About Gamco Investors
GAMCO Investors, Inc is a holding company. The Company is a provider of investment advisory services to open and closed-end funds, institutional and private wealth management investors principally in the United States. The Company operates through the investment advisory and asset management business segment.
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