The Gabelli Equity Trust Inc. (NYSE:GAB) declared a quarterly dividend on Thursday, August 19th, Zacks reports. Investors of record on Thursday, September 16th will be paid a dividend of 0.15 per share by the financial services provider on Thursday, September 23rd. This represents a $0.60 annualized dividend and a yield of 8.57%. The ex-dividend date of this dividend is Wednesday, September 15th.
Shares of GAB stock opened at $7.00 on Tuesday. The Gabelli Equity Trust has a 52-week low of $5.00 and a 52-week high of $7.57. The business has a 50-day simple moving average of $6.80 and a 200-day simple moving average of $6.95.
An institutional investor recently bought a new position in The Gabelli Equity Trust stock. Millennium Management LLC acquired a new position in The Gabelli Equity Trust Inc. (NYSE:GAB) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,294 shares of the financial services provider’s stock, valued at approximately $112,000. Hedge funds and other institutional investors own 6.06% of the company’s stock.
The Gabelli Equity Trust Inc is a closed ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It invests in preferred stock, convertible or exchangeable securities, and warrants and rights.
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