Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 618,232 shares were traded during trading, an increase of 8% from the previous session's volume of 572,789 shares.The stock last traded at $5.78 and had previously closed at $5.70.
Gabelli Equity Trust Stock Performance
The company has a 50 day moving average of $5.65 and a two-hundred day moving average of $5.53.
Gabelli Equity Trust Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, June 23rd. Investors of record on Friday, June 13th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, June 13th. This represents a $0.60 annualized dividend and a yield of 10.43%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC lifted its position in Gabelli Equity Trust by 28.3% during the 4th quarter. LPL Financial LLC now owns 3,520,427 shares of the financial services provider's stock worth $18,940,000 after acquiring an additional 776,591 shares during the period. J.W. Cole Advisors Inc. lifted its position in Gabelli Equity Trust by 3,654.1% during the 1st quarter. J.W. Cole Advisors Inc. now owns 720,307 shares of the financial services provider's stock worth $3,969,000 after acquiring an additional 701,120 shares during the period. Golden State Wealth Management LLC lifted its position in Gabelli Equity Trust by 90.8% during the 1st quarter. Golden State Wealth Management LLC now owns 1,037,271 shares of the financial services provider's stock worth $5,715,000 after acquiring an additional 493,510 shares during the period. Raymond James Financial Inc. acquired a new stake in Gabelli Equity Trust during the 4th quarter worth about $2,614,000. Finally, Independent Advisor Alliance acquired a new stake in Gabelli Equity Trust during the 4th quarter worth about $1,978,000. 7.24% of the stock is currently owned by hedge funds and other institutional investors.
About 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.
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