The Gabelli Equity Trust (NYSE:GAB) Sees Large Volume Increase – Time to Buy?

The Gabelli Equity Trust Inc. (NYSE:GAB) shares saw strong trading volume on Friday . 734,599 shares changed hands during mid-day trading, an increase of 69% from the previous session’s volume of 434,830 shares.The stock last traded at $5.65 and had previously closed at $5.53.

The Gabelli Equity Trust Stock Up 2.3 %

The firm’s fifty day moving average price is $5.55 and its 200 day moving average price is $5.47.

The Gabelli Equity Trust Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 13th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 10.61%. The ex-dividend date of this dividend was Friday, December 13th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. CNB Bank acquired a new position in shares of The Gabelli Equity Trust in the 3rd quarter valued at $38,000. Aurora Private Wealth Inc. acquired a new stake in The Gabelli Equity Trust during the 4th quarter worth $56,000. Triton Wealth Management PLLC acquired a new stake in The Gabelli Equity Trust during the 3rd quarter worth $60,000. Meridian Wealth Management LLC acquired a new stake in The Gabelli Equity Trust during the 3rd quarter worth $75,000. Finally, Executive Wealth Management LLC acquired a new stake in The Gabelli Equity Trust during the 3rd quarter worth $82,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

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.