The Gabelli Equity Trust (NYSE:GAB) Sees Large Volume Increase

The Gabelli Equity Trust Inc. (NYSE:GABGet Free Report) saw unusually-strong trading volume on Thursday . Approximately 454,812 shares were traded during trading, a decline of 26% from the previous session’s volume of 618,527 shares.The stock last traded at $5.58 and had previously closed at $5.54.

The Gabelli Equity Trust Stock Performance

The company has a 50 day simple moving average of $5.32 and a 200 day simple moving average of $5.16.

The Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 14th were issued a $0.15 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.60 annualized dividend and a yield of 10.81%.

Insider Buying and Selling at The Gabelli Equity Trust

In related news, insider Mario J. Gabelli bought 10,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was bought at an average price of $100.00 per share, with a total value of $1,000,000.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $1,000,000. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Gabelli Equity Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GAB. B. Riley Wealth Advisors Inc. raised its position in shares of The Gabelli Equity Trust by 26.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 64,907 shares of the financial services provider’s stock valued at $330,000 after purchasing an additional 13,387 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in The Gabelli Equity Trust in the fourth quarter valued at $32,000. Virtu Financial LLC bought a new position in The Gabelli Equity Trust during the 4th quarter valued at $337,000. Baird Financial Group Inc. grew its holdings in The Gabelli Equity Trust by 69.9% during the 4th quarter. Baird Financial Group Inc. now owns 233,809 shares of the financial services provider’s stock worth $1,188,000 after acquiring an additional 96,157 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in The Gabelli Equity Trust by 25.5% during the 4th quarter. Citadel Advisors LLC now owns 30,662 shares of the financial services provider’s stock worth $156,000 after acquiring an additional 6,226 shares in the last quarter. Hedge funds and other institutional investors own 6.86% of the company’s stock.

The Gabelli Equity Trust Company Profile

(Get Free Report)

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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