Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report)'s share price hit a new 52-week high on Thursday . The stock traded as high as $5.94 and last traded at $5.94, with a volume of 78286 shares traded. The stock had previously closed at $5.91.
Gabelli Equity Trust Price Performance
The firm has a 50-day moving average of $5.75 and a two-hundred day moving average of $5.55.
Gabelli Equity Trust Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 23rd. Stockholders of record on Friday, June 13th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 10.14%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of GAB. Northwestern Mutual Wealth Management Co. grew its stake in Gabelli Equity Trust by 472.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 7,850 shares of the financial services provider's stock worth $43,000 after purchasing an additional 6,479 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Gabelli Equity Trust by 194.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,251 shares of the financial services provider's stock worth $45,000 after purchasing an additional 5,447 shares in the last quarter. Bank of Montreal Can acquired a new position in Gabelli Equity Trust during the 4th quarter worth $56,000. Novem Group acquired a new position in Gabelli Equity Trust during the 1st quarter worth $58,000. Finally, Elequin Capital LP acquired a new stake in Gabelli Equity Trust in the fourth quarter valued at $69,000. 7.24% of the stock is currently owned by hedge funds and other institutional investors.
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.
Featured Articles
Before you consider 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 Gabelli Equity Trust wasn't on the list.
While 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
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
