Gabelli Equity Trust (NYSE:GAB) Stock Passes Above 50 Day Moving Average – Here’s What Happened

Gabelli Equity Trust Inc. (NYSE:GAB)’s share price crossed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $5.60 and traded as high as $5.65. Gabelli Equity Trust shares last traded at $5.6350, with a volume of 1,474,153 shares.

Gabelli Equity Trust Stock Up 1.7%

The firm has a 50 day simple moving average of $5.60 and a two-hundred day simple moving average of $5.84.

Gabelli Equity Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Monday, June 15th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.60 annualized dividend and a yield of 10.6%.

Institutional Investors Weigh In On Gabelli Equity Trust

Several large investors have recently bought and sold shares of the company. Commonwealth Retirement Investments LLC acquired a new stake in Gabelli Equity Trust in the fourth quarter worth $30,000. Flagship Harbor Advisors LLC acquired a new position in shares of Gabelli Equity Trust in the 4th quarter valued at $30,000. Huntington National Bank acquired a new position in shares of Gabelli Equity Trust in the 3rd quarter valued at $30,000. Geneos Wealth Management Inc. increased its position in shares of Gabelli Equity Trust by 200.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 5,100 shares of the financial services provider’s stock valued at $30,000 after buying an additional 3,400 shares in the last quarter. Finally, Larson Financial Group LLC bought a new stake in shares of Gabelli Equity Trust in the 3rd quarter valued at $34,000. Institutional investors own 7.24% of the company’s stock.

About Gabelli Equity Trust

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.