Bank of New York Mellon Corp boosted its position in Gamco Investors, Inc. (NYSE:GBL) by 5.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 0.25% of Gamco Investors worth $2,121,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of GBL. Wells Fargo & Company MN raised its position in Gamco Investors by 2.1% in the first quarter. Wells Fargo & Company MN now owns 4,584 shares of the closed-end fund’s stock worth $135,000 after buying an additional 96 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Gamco Investors during the fourth quarter worth $197,000. Advisory Services Network LLC bought a new position in Gamco Investors during the first quarter worth $230,000. Two Sigma Investments LP raised its position in Gamco Investors by 111.3% in the fourth quarter. Two Sigma Investments LP now owns 21,778 shares of the closed-end fund’s stock worth $673,000 after buying an additional 11,471 shares during the last quarter. Finally, Norges Bank bought a new position in Gamco Investors during the fourth quarter worth $927,000. Institutional investors own 15.73% of the company’s stock.
Shares of Gamco Investors, Inc. (GBL) opened at 30.02 on Monday. Gamco Investors, Inc. has a 52-week low of $27.55 and a 52-week high of $33.60. The stock’s 50 day moving average price is $30.25 and its 200-day moving average price is $29.63. The firm has a market capitalization of $867.70 million, a PE ratio of 7.79 and a beta of 1.07.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 26th. Stockholders of record on Tuesday, September 12th will be given a $0.02 dividend. The ex-dividend date is Monday, September 11th. This represents a $0.08 annualized dividend and a dividend yield of 0.27%. Gamco Investors’s dividend payout ratio is presently 2.17%.
Separately, BidaskClub upgraded Gamco Investors from a “sell” rating to a “hold” rating in a research report 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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