The Gabelli Equity Trust (NYSE:GAB) Sees Large Volume Increase – Here’s Why

Shares of The Gabelli Equity Trust Inc. (NYSE:GAB) saw an uptick in trading volume on Monday . 491,562 shares were traded during trading, a decline of 11% from the previous session’s volume of 554,239 shares.The stock last traded at $5.69 and had previously closed at $5.60.

The Gabelli Equity Trust Price Performance

The stock’s 50 day simple moving average is $5.54 and its 200-day simple moving average is $5.52.

The Gabelli Equity Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 annualized dividend and a yield of 10.77%.

Institutional Trading of The Gabelli Equity Trust

Several large investors have recently made changes to their positions in GAB. Kentucky Trust Co acquired a new stake in The Gabelli Equity Trust in the 4th quarter worth approximately $40,000. Aurora Private Wealth Inc. bought a new position in shares of The Gabelli Equity Trust in the fourth quarter valued at approximately $56,000. Bank of Montreal Can acquired a new stake in shares of The Gabelli Equity Trust in the fourth quarter worth $56,000. Strategic Financial Concepts LLC bought a new stake in shares of The Gabelli Equity Trust during the 4th quarter worth $58,000. Finally, Elequin Capital LP bought a new stake in shares of The Gabelli Equity Trust during the 4th quarter worth $69,000. Institutional investors own 7.24% of the company’s stock.

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.