Is GDV halal?
Gabelli Dividend & Income Trust
Not halal
Gabelli Dividend & Income Trust did not pass AAOIFI screening. The failed check is shown below.
Checked: 16 October 2026
Exchange
NYSE
Price
28.29
Day
-0.28%
Market cap
$2.45B
Industry
Asset Management
Sector
Financial Services
What the company does
Gabelli Dividend & Income Trust is not an operating company but an exchange-listed closed-end fund: it holds a portfolio of dividend-paying stocks and pays monthly distributions. Income comes from portfolio dividends and gains.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Prohibited activity: Asset Management
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $7K ÷ 36-month average market cap $2.18B = 0.0%
0.0%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $3.28B ÷ 36-month average market cap $2.18B = 150.4%
150.4%
Fail
Non-compliant income / total revenue
limit 5%
Interest income $10.66M ÷ annual revenue $431.48M (2025) = 2.5%
2.5%
Pass
Figures from the company's filings (2025-12-31), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict. Today's market cap: $2.45B.
For information (AAOIFI 3/1 note): cash + receivables are 0.1% of total assets (2025-12-31). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
Note: the screener found the latest filing to be stale — the verdict rests on old data.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
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Halal is the first question. The second: when to enter?
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This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.