Gabelli Equity Trust (NYSE:GAB) Stock Crosses Below 200-Day Moving Average – What’s Next?

Gabelli Equity Trust Inc. (NYSE:GAB) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.74 and traded as low as $5.70. Gabelli Equity Trust shares last traded at $5.7050, with a volume of 747,505 shares trading hands.

Gabelli Equity Trust Trading Up 1.3%

The firm has a fifty day moving average price of $5.61 and a 200-day moving average price of $5.74.

Gabelli Equity Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Monday, June 15th were given a dividend of $0.15 per share. The ex-dividend date was Monday, June 15th. This represents a $0.60 annualized dividend and a yield of 10.5%.

Institutional Trading of Gabelli Equity Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IMC Chicago LLC acquired a new position in shares of Gabelli Equity Trust during the 2nd quarter valued at about $1,038,000. Northstar Group Inc. acquired a new stake in shares of Gabelli Equity Trust in the second quarter worth approximately $116,000. Core Wealth Advisors Inc. purchased a new stake in Gabelli Equity Trust in the first quarter valued at approximately $206,000. PNC Financial Services Group Inc. purchased a new stake in Gabelli Equity Trust in the first quarter valued at approximately $33,000. Finally, Kiley Juergens Wealth Management LLC acquired a new position in Gabelli Equity Trust during the first quarter worth approximately $73,000. Hedge funds and other institutional investors own 7.24% of the company’s stock.

Gabelli Equity Trust Company Profile

Gabelli Equity Trust, Inc (NYSE: GAB) is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.