Gabelli Equity Trust (NYSE:GAB) Reaches New 12-Month Low – What’s Next?

Gabelli Equity Trust Inc. (NYSE:GAB) hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $5.14 and last traded at $5.1750, with a volume of 1308487 shares traded. The stock had previously closed at $5.24.

Gabelli Equity Trust Stock Performance

The company’s 50-day moving average price is $5.56 and its 200 day moving average price is $5.58.

Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 11.5%. The ex-dividend date was Wednesday, September 16th.

Institutional Investors Weigh In On Gabelli Equity Trust

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Silver Oak Securities Incorporated raised its position in shares of Gabelli Equity Trust by 16.5% during the 1st quarter. Silver Oak Securities Incorporated now owns 19,808 shares of the financial services provider’s stock valued at $111,000 after buying an additional 2,801 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Gabelli Equity Trust by 2.1% during the first quarter. Janney Montgomery Scott LLC now owns 159,155 shares of the financial services provider’s stock worth $891,000 after acquiring an additional 3,255 shares during the last quarter. Commonwealth Retirement Investments LLC bought a new stake in Gabelli Equity Trust during the fourth quarter worth approximately $30,000. PNC Financial Services Group Inc. purchased a new stake in Gabelli Equity Trust during the first quarter valued at approximately $33,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in Gabelli Equity Trust during the second quarter valued at approximately $36,000. 7.24% of the stock is owned by institutional investors.

Gabelli Equity Trust Company Profile

Gabelli Equity Trust Inc is a diversified closed-end investment company listed on the New York Stock Exchange under the symbol GAB. The fund seeks long-term growth of capital and income by investing primarily in a portfolio of equity securities, including common stocks of companies across a range of industries.

The trust is managed by Gabelli Funds, LLC, an investment adviser affiliated with GAMCO Investors, Inc Its investment approach is associated with fundamental, value-oriented research and may include investments in U.S.