Gabelli Launches Keeley Dividend ETF (KDVD)

Core Viewpoint - Gabelli Funds has launched the Keeley Dividend ETF (KDVD) on the NYSE, targeting dividend-paying small- and mid-cap companies for income and capital appreciation [1][2] Fund Overview - KDVD is an actively managed ETF that aims to invest in a diverse range of dividend-paying stocks, from modest payers to higher yielding names, utilizing Gabelli's fundamental, bottom-up research approach [2] - The fund is managed by experienced portfolio managers Thomas E. Browne, Jr. and Brian P. Leonard, who have over 16 years of experience in managing dividend strategies [1] Market Context - The current market conditions are favorable for dividend investors, as valuations in small- and mid-cap equities are more attractive compared to large-cap stocks, and dividend strategies have underperformed in recent years [2] Fee Structure - To promote the new ETF, Gabelli is waiving the standard 0.90% management fee for the first year after inception, after which the fund will revert to its regular fee schedule [3]