Gabelli Equity Trust Inc. (NYSE:GAB - Get Free Report) shares crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $5.65 and traded as high as $5.68. Gabelli Equity Trust shares last traded at $5.6750, with a volume of 691,919 shares.

Gabelli Equity Trust Stock Up 0.4%

The company's fifty day moving average is $5.65 and its two-hundred day moving average is $5.71.

Gabelli Equity Trust Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 10.6%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GAB. Rivernorth Capital Management LLC acquired a new stake in Gabelli Equity Trust in the second quarter worth $37,409,000. LPL Financial LLC grew its holdings in shares of Gabelli Equity Trust by 2.1% in the 4th quarter. LPL Financial LLC now owns 4,462,497 shares of the financial services provider's stock valued at $27,534,000 after buying an additional 93,789 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Gabelli Equity Trust by 1.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,516,560 shares of the financial services provider's stock valued at $9,357,000 after buying an additional 28,926 shares during the period. Cetera Investment Advisers increased its position in shares of Gabelli Equity Trust by 1.1% in the 4th quarter. Cetera Investment Advisers now owns 674,300 shares of the financial services provider's stock valued at $4,160,000 after buying an additional 7,320 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Gabelli Equity Trust by 1.0% in the 4th quarter. Wells Fargo & Company MN now owns 641,300 shares of the financial services provider's stock valued at $3,957,000 after buying an additional 6,175 shares in the last quarter. 7.24% of the stock is currently owned by institutional investors.

About Gabelli Equity Trust

(Get Free Report)

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.

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