Saba Capital Management Reduces Stake in The Gabelli Dividend & Income Trust to 5.35%

On June 15, 2026, Saba Capital Management, L.P., alongside Saba Capital Management GP, LLC and Boaz R. Weinstein, filed Amendment No. 4 to their Schedule 13D regarding The Gabelli Dividend & Income Trust (GDV). The filing reports a decrease in their position to 4,715,534 common shares, representing approximately 5.35% of the class. This is a reduction from the 5,106,460 shares previously held. The reporting persons executed a series of open-market sales between April 28, 2026, and June 11, 2026, with share prices ranging from approximately $28.72 to $29.42 per share. The total cost to acquire the currently held shares was approximately $107.7 million, funded through investor capital and margin account borrowings. The filing clarifies that while the reporting persons manage the funds that hold these shares, they disclaim beneficial ownership except to the extent of their pecuniary interest. The percentages are based on 88,167,468 shares outstanding as of December 31, 2025.