Shares of The Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report) saw an uptick in trading volume on Friday . 478,797 shares were traded during trading, a decline of 17% from the previous session's volume of 579,520 shares.The stock last traded at $5.43 and had previously closed at $5.36.
The Gabelli Equity Trust Trading Up 2.6 %
The firm has a 50-day simple moving average of $5.57 and a 200-day simple moving average of $5.46.
The Gabelli Equity Trust Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 10.91%. The ex-dividend date is Friday, December 13th.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. PFG Investments LLC boosted its stake in The Gabelli Equity Trust by 2.3% in the third quarter. PFG Investments LLC now owns 83,651 shares of the financial services provider's stock valued at $459,000 after acquiring an additional 1,869 shares in the last quarter. Magnus Financial Group LLC lifted its holdings in shares of The Gabelli Equity Trust by 2.7% during the 2nd quarter. Magnus Financial Group LLC now owns 78,166 shares of the financial services provider's stock valued at $406,000 after purchasing an additional 2,063 shares during the last quarter. Evernest Financial Advisors LLC boosted its position in shares of The Gabelli Equity Trust by 2.8% in the 3rd quarter. Evernest Financial Advisors LLC now owns 99,398 shares of the financial services provider's stock worth $546,000 after purchasing an additional 2,663 shares in the last quarter. IFG Advisory LLC boosted its position in shares of The Gabelli Equity Trust by 11.7% in the 2nd quarter. IFG Advisory LLC now owns 31,486 shares of the financial services provider's stock worth $164,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Concourse Financial Group Securities Inc. grew its stake in The Gabelli Equity Trust by 252.9% during the 2nd quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider's stock worth $31,000 after buying an additional 4,300 shares during the last quarter. Hedge funds and other institutional investors own 7.24% of the company's stock.
About The Gabelli Equity Trust
(
Get Free Report)
The Gabelli Equity Trust Inc is a closed ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It invests in preferred stock, convertible or exchangeable securities, and warrants and rights.
Further Reading
Before you consider The Gabelli Equity Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and The Gabelli Equity Trust wasn't on the list.
While The Gabelli Equity Trust currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, StarLink, or The Boring Company? Click the link below to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
