Gabelli Equity Trust (NYSE:GAB) Shares Cross Below 200 Day Moving Average – Here’s Why

Gabelli Equity Trust Inc. (NYSE:GAB – Get Free Report)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.64 and traded as low as $5.50. Gabelli Equity Trust shares last traded at $5.5150, with a volume of 1,142,738 shares trading hands.

Gabelli Equity Trust Trading Up 1.6%

The stock’s 50-day simple moving average is $5.66 and its two-hundred day simple moving average is $5.64.

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Gabelli Equity Trust Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 11.2%. The ex-dividend date of this dividend is Wednesday, September 16th.

Institutional Investors Weigh In On Gabelli Equity Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in GAB. Rivernorth Capital Management LLC acquired a new stake in shares of Gabelli Equity Trust in the second quarter valued at approximately $37,409,000. 1607 Capital Partners LLC acquired a new position in Gabelli Equity Trust in the second quarter valued at approximately $2,264,000. IMC Chicago LLC purchased a new position in Gabelli Equity Trust in the second quarter worth approximately $1,038,000. Janney Montgomery Scott LLC grew its position in Gabelli Equity Trust by 2.1% in 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 period. Finally, World Investment Advisors acquired a new stake in Gabelli Equity Trust during the fourth quarter worth $511,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

Gabelli Equity Trust Company Profile

(Get Free Report)

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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