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

Gabelli Equity Trust Inc. (NYSE:GAB)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $5.60 and traded as high as $5.66. Gabelli Equity Trust shares last traded at $5.5850, with a volume of 791,086 shares traded.

Gabelli Equity Trust Price Performance

The business has a 50 day moving average price of $5.60 and a 200 day moving average price of $5.79.

Gabelli Equity Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Monday, June 15th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.60 dividend on an annualized basis and a yield of 10.7%.

Hedge Funds Weigh In On Gabelli Equity Trust

Several large investors have recently added to or reduced their stakes in the company. Hilltop Holdings Inc. grew its position 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 buying an additional 1,724 shares in the last quarter. Smith Moore & CO. raised its holdings in 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 valued at $109,000 after acquiring an additional 1,776 shares in the last quarter. Baird Financial Group Inc. raised its holdings in Gabelli Equity Trust by 6.5% in the 2nd quarter. Baird Financial Group Inc. now owns 32,548 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 2,000 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Gabelli Equity Trust by 2.6% during the 4th quarter. HighTower Advisors LLC now owns 83,820 shares of the financial services provider’s stock valued at $517,000 after acquiring an additional 2,127 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Gabelli Equity Trust by 3.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 83,274 shares of the financial services provider’s stock valued at $515,000 after acquiring an additional 2,519 shares during the period. Institutional investors and hedge funds 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.