Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report) shares saw an uptick in trading volume on Monday . 618,232 shares were traded during mid-day 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 stock has a 50 day moving average price of $5.61 and a two-hundred day moving average price of $5.53.
Gabelli Equity Trust Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 13th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.60 dividend on an annualized basis and a yield of 10.43%.
Institutional Trading of Gabelli Equity Trust
A number of institutional investors have recently added to or reduced their stakes in GAB. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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 valued at $43,000 after acquiring an additional 6,479 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Gabelli Equity Trust by 194.3% during the first 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 during the period. Bank of Montreal Can acquired a new position in Gabelli Equity Trust during the fourth quarter valued at approximately $56,000. Novem Group bought a new position in shares of Gabelli Equity Trust in the first quarter valued at approximately $58,000. Finally, Elequin Capital LP acquired a new stake in shares of Gabelli Equity Trust in the fourth quarter worth $69,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.
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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