Gabelli Equity Trust (NYSE:GAB) Shares Cross Above 50 Day Moving Average – What’s Next?

Gabelli Equity Trust Inc. (NYSE:GAB) shares passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $6.14 and traded as high as $6.16. Gabelli Equity Trust shares last traded at $6.1050, with a volume of 484,348 shares.

Gabelli Equity Trust Stock Down 0.7%

The business has a fifty day moving average price of $6.14 and a 200 day moving average price of $6.07.

Gabelli Equity Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 12th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 9.8%. The ex-dividend date was Friday, December 12th.

Insider Activity

In other Gabelli Equity Trust news, insider Mario J. Gabelli bought 500,000 shares of the business’s stock in a transaction dated Friday, December 26th. The shares were acquired at an average price of $10.00 per share, with a total value of $5,000,000.00. Following the purchase, the insider owned 500,000 shares in the company, valued at approximately $5,000,000. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hilltop Holdings Inc. lifted its stake in Gabelli Equity Trust by 9.6% during the third quarter. Hilltop Holdings Inc. now owns 19,756 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 1,724 shares during the last quarter. Smith Moore & CO. lifted its position in shares of Gabelli Equity Trust by 11.2% in the 4th quarter. Smith Moore & CO. now owns 17,595 shares of the financial services provider’s stock worth $109,000 after buying an additional 1,776 shares during the last quarter. Symphony Financial Services Inc. boosted its holdings in shares of Gabelli Equity Trust by 6.6% in the 3rd quarter. Symphony Financial Services Inc. now owns 31,944 shares of the financial services provider’s stock valued at $195,000 after buying an additional 1,966 shares during the period. Baird Financial Group Inc. grew its position in shares of Gabelli Equity Trust by 6.5% during the 2nd quarter. Baird Financial Group Inc. now owns 32,548 shares of the financial services provider’s stock valued at $189,000 after buying an additional 2,000 shares during the last quarter. Finally, Good Life Advisors LLC lifted its holdings in Gabelli Equity Trust by 10.0% in the second quarter. Good Life Advisors LLC now owns 22,161 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 2,020 shares during the last quarter. 7.24% of the stock is owned by institutional investors and hedge funds.

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.