Gabelli Equity Trust Inc. (NYSE:GAB – Get Free Report)’s share price hit a new 52-week low on Wednesday . The company traded as low as $5.27 and last traded at $5.2750, with a volume of 1079560 shares changing hands. The stock had previously closed at $5.50.
Gabelli Equity Trust Price Performance
The company has a fifty day moving average price of $5.67 and a 200-day moving average price of $5.64.
Gabelli Equity Trust Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 11.3%. The ex-dividend date is Wednesday, September 16th.
Institutional Trading of Gabelli Equity Trust
A number of large investors have recently added to or reduced their stakes in the company. Commonwealth Retirement Investments LLC bought a new position in shares of Gabelli Equity Trust in the 4th quarter valued at about $30,000. PNC Financial Services Group Inc. purchased a new position in Gabelli Equity Trust in the first quarter worth about $33,000. Integrated Wealth Concepts LLC bought a new stake in Gabelli Equity Trust during the second quarter worth approximately $36,000. Hilton Head Capital Partners LLC bought a new stake in Gabelli Equity Trust during the fourth quarter worth approximately $42,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in Gabelli Equity Trust during the second quarter valued at approximately $44,000. Institutional investors own 7.24% of the company’s stock.
About Gabelli Equity Trust
Gabelli Equity Trust Inc is a diversified closed-end management investment company listed on the New York Stock Exchange under the symbol GAB. The fund seeks long-term growth of capital, with current income as a secondary objective, by investing primarily in a diversified portfolio of equity securities.
The portfolio may include common stocks and other equity investments in companies across a range of industries and geographic regions, including both the United States and international markets.
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