The Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $5.85 and last traded at $5.85, with a volume of 311898 shares traded. The stock had previously closed at $5.79.
The Gabelli Equity Trust Trading Up 0.2%
The company's 50-day moving average is $5.56 and its 200-day moving average is $5.54.
The Gabelli Equity Trust Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 10.22%.
Institutional Trading of The Gabelli Equity Trust
Several large investors have recently made changes to their positions in the company. LPL Financial LLC lifted its stake in The Gabelli Equity Trust by 28.3% in the 4th quarter. LPL Financial LLC now owns 3,520,427 shares of the financial services provider's stock valued at $18,940,000 after purchasing an additional 776,591 shares during the last quarter. J.W. Cole Advisors Inc. increased its stake in The Gabelli Equity Trust by 3,654.1% in the first quarter. J.W. Cole Advisors Inc. now owns 720,307 shares of the financial services provider's stock valued at $3,969,000 after purchasing an additional 701,120 shares in the last quarter. Golden State Wealth Management LLC increased its stake in The Gabelli Equity Trust by 90.8% in the first quarter. Golden State Wealth Management LLC now owns 1,037,271 shares of the financial services provider's stock valued at $5,715,000 after purchasing an additional 493,510 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of The Gabelli Equity Trust during the fourth quarter valued at about $2,614,000. Finally, Independent Advisor Alliance acquired a new position in shares of The Gabelli Equity Trust during the fourth quarter valued at about $1,978,000. Institutional investors and hedge funds own 7.24% of the company's stock.
About The Gabelli Equity Trust
(
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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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