Gabelli Equity Trust (NYSE:GAB) Shares Pass Below Two Hundred Day Moving Average – Time to Sell?

Gabelli Equity Trust Inc. (NYSE:GAB – Get Free Report) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.93 and traded as low as $5.55. Gabelli Equity Trust shares last traded at $5.5750, with a volume of 1,057,052 shares.

Gabelli Equity Trust Stock Performance

The stock’s fifty day simple moving average is $5.58 and its 200-day simple moving average is $5.93.

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Gabelli Equity Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date of this dividend is Monday, June 15th.

Hedge Funds Weigh In On Gabelli Equity Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in GAB. Kestra Advisory Services LLC boosted its holdings in shares of Gabelli Equity Trust by 75.8% in the 4th quarter. Kestra Advisory Services LLC now owns 456,226 shares of the financial services provider’s stock worth $2,815,000 after buying an additional 196,659 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Gabelli Equity Trust by 541.0% in the 4th quarter. Jane Street Group LLC now owns 187,620 shares of the financial services provider’s stock worth $1,158,000 after buying an additional 158,348 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Gabelli Equity Trust by 722.6% in the 4th quarter. Truist Financial Corp now owns 172,371 shares of the financial services provider’s stock worth $1,064,000 after buying an additional 151,416 shares during the last quarter. PMG Family Office LLC purchased a new position in shares of Gabelli Equity Trust in the 3rd quarter worth about $848,000. Finally, Bank of America Corp DE boosted its holdings in shares of Gabelli Equity Trust by 18.8% in the 3rd quarter. Bank of America Corp DE now owns 631,227 shares of the financial services provider’s stock worth $3,844,000 after buying an additional 99,912 shares during the last quarter. 7.24% of the stock is owned by hedge funds and other institutional investors.

Gabelli Equity Trust Company Profile

(Get Free Report)

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.

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