The Gabelli Equity Trust (NYSE:GAB) Sees Strong Trading Volume – What’s Next?

The Gabelli Equity Trust Inc. (NYSE:GAB) saw strong trading volume on Friday . 734,599 shares changed hands during trading, an increase of 69% from the previous session’s volume of 434,830 shares.The stock last traded at $5.65 and had previously closed at $5.53.

The Gabelli Equity Trust Stock Up 2.3 %

The business has a fifty day moving average price of $5.55 and a two-hundred day moving average price of $5.47.

The Gabelli Equity Trust Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 13th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 10.61%. The ex-dividend date was Friday, December 13th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GAB. CNB Bank purchased a new position in shares of The Gabelli Equity Trust during the 3rd quarter valued at about $38,000. Aurora Private Wealth Inc. acquired a new stake in The Gabelli Equity Trust during the fourth quarter worth about $56,000. Triton Wealth Management PLLC purchased a new position in The Gabelli Equity Trust during the third quarter valued at approximately $60,000. Meridian Wealth Management LLC acquired a new position in The Gabelli Equity Trust in the third quarter valued at approximately $75,000. Finally, Executive Wealth Management LLC purchased a new stake in The Gabelli Equity Trust in the 3rd quarter worth approximately $82,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

The Gabelli Equity Trust Company Profile

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.