Gabelli Equity Trust (NYSE:GAB) Share Price Breaks Above 50-Day Moving Average – Should You Sell?

Gabelli Equity Trust Inc. (NYSE:GAB)’s stock price passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $5.35 and traded as high as $5.39. Gabelli Equity Trust shares last traded at $5.3550, with a volume of 1,063,668 shares traded.

Gabelli Equity Trust Trading Up 1.4%

The firm’s 50-day moving average is $5.35 and its two-hundred day moving average is $5.64.

Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 11.2%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GAB. Triton Wealth Management PLLC acquired a new position in shares of Gabelli Equity Trust during the 3rd quarter valued at about $59,000. StoneX Group Inc. bought a new position in shares of Gabelli Equity Trust in the 3rd quarter valued at approximately $153,000. Kingstone Capital Partners Texas LLC raised its stake in shares of Gabelli Equity Trust by 4.9% in the 3rd quarter. Kingstone Capital Partners Texas LLC now owns 56,566 shares of the financial services provider’s stock valued at $296,000 after acquiring an additional 2,644 shares in the last quarter. Calamos Advisors LLC acquired a new stake in Gabelli Equity Trust in the 3rd quarter worth approximately $326,000. Finally, Kestra Advisory Services LLC lifted its holdings in Gabelli Equity Trust by 6.1% in the 3rd quarter. Kestra Advisory Services LLC now owns 529,261 shares of the financial services provider’s stock worth $2,773,000 after purchasing an additional 30,427 shares during the last quarter. Institutional investors own 7.24% of the company’s stock.

About Gabelli Equity Trust

Gabelli Equity Trust Inc (NYSE: GAB) is a diversified, closed-end management investment company. The fund seeks long-term growth of capital, with income as a secondary objective, by investing primarily in a portfolio of common stocks and other equity securities.

The fund uses a value-oriented investment approach associated with Gabelli Funds, LLC, its investment adviser. Its portfolio may include companies across a range of industries and can contain both U.S. and international investments, providing shareholders with exposure to established and growth-oriented businesses in multiple sectors and geographies.

Gabelli Equity Trust was organized in 1986 and is managed by Gabelli Funds, an affiliate of GAMCO Investors.