The Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report) shares saw unusually-strong trading volume on Friday . Approximately 215,640 shares were traded during trading, a decline of 62% from the previous session's volume of 572,112 shares.The stock last traded at $5.62 and had previously closed at $5.61.
The Gabelli Equity Trust Price Performance
The stock has a 50-day simple moving average of $5.57 and a 200 day simple moving average of $5.46.
The Gabelli Equity Trust Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 13th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 10.73%. The ex-dividend date of this dividend is Friday, December 13th.
Institutional Investors Weigh In On The Gabelli Equity Trust
Several institutional investors have recently modified their holdings of the business. Concourse Financial Group Securities Inc. increased its holdings in The Gabelli Equity Trust by 252.9% in the second quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 4,300 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of The Gabelli Equity Trust in the 2nd quarter valued at about $31,000. CNB Bank bought a new stake in shares of The Gabelli Equity Trust in the 3rd quarter valued at about $38,000. Triton Wealth Management PLLC acquired a new stake in shares of The Gabelli Equity Trust in the 3rd quarter valued at approximately $60,000. Finally, Kapstone Financial Advisors LLC bought a new position in The Gabelli Equity Trust during the 2nd quarter worth approximately $61,000. Institutional investors and hedge funds own 7.24% of the company's stock.
The Gabelli Equity Trust Company Profile
(
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.
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