The Gabelli Equity Trust (NYSE:GAB) Shares Gap Down to $5.49

The Gabelli Equity Trust Inc. (NYSE:GAB)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $5.49, but opened at $5.33. The Gabelli Equity Trust shares last traded at $5.36, with a volume of 247,833 shares changing hands.

The Gabelli Equity Trust Stock Performance

The firm has a 50 day moving average price of $5.40 and a two-hundred day moving average price of $5.41.

The Gabelli Equity Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Monday, September 16th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.28%.

Insider Buying and Selling at The Gabelli Equity Trust

In related news, insider Mario J. Gabelli bought 11,750 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was bought at an average price of $100.00 per share, with a total value of $1,175,000.00. Following the transaction, the insider now owns 16,750 shares of the company’s stock, valued at $1,675,000. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.90% of the stock is currently owned by insiders.

Institutional Trading of The Gabelli Equity Trust

A number of institutional investors and hedge funds have recently modified their holdings of GAB. Steward Partners Investment Solutions LLC acquired a new stake in The Gabelli Equity Trust during the fourth quarter worth about $27,000. Concourse Financial Group Securities Inc. raised its position in shares of The Gabelli Equity Trust by 252.9% during the 2nd quarter. Concourse Financial Group Securities Inc. now owns 6,000 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 4,300 shares during the period. Rothschild Investment LLC bought a new stake in shares of The Gabelli Equity Trust in the 2nd quarter worth approximately $31,000. ICA Group Wealth Management LLC acquired a new position in The Gabelli Equity Trust during the 4th quarter valued at approximately $32,000. Finally, CreativeOne Wealth LLC acquired a new stake in The Gabelli Equity Trust in the first quarter worth $56,000. 7.24% of the stock is owned by institutional investors and hedge funds.

The Gabelli Equity Trust Company Profile

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.