Gabelli Equity Trust (NYSE:GAB) Sets New 52-Week Low – Here’s Why

by · The Cerbat Gem

Gabelli Equity Trust Inc. (NYSE:GAB – Get Free Report) hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $5.21 and last traded at $5.2450, with a volume of 915799 shares changing hands. The stock had previously closed at $5.30.

Gabelli Equity Trust Trading Down 0.4%

The firm’s 50-day moving average price is $5.59 and its 200 day moving average price is $5.59.

Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $0.60 annualized dividend and a yield of 11.5%.

Institutional Trading of Gabelli Equity Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GAB. 1607 Capital Partners LLC bought a new stake in Gabelli Equity Trust during the second quarter worth $2,264,000. IMC Chicago LLC purchased a new stake in Gabelli Equity Trust in the 2nd quarter valued at $1,038,000. Rivernorth Capital Management LLC bought a new position in Gabelli Equity Trust during the 2nd quarter valued at $37,409,000. Northstar Group Inc. bought a new position in Gabelli Equity Trust during the 2nd quarter valued at $116,000. Finally, Core Wealth Advisors Inc. bought a new position in Gabelli Equity Trust during the 1st quarter valued at $206,000. 7.24% of the stock is owned by institutional investors.

Gabelli Equity Trust Company Profile

(Get Free Report)

Gabelli Equity Trust Inc is a diversified closed-end investment company listed on the New York Stock Exchange under the symbol GAB. The fund seeks long-term growth of capital and income by investing primarily in a portfolio of equity securities, including common stocks of companies across a range of industries.

The trust is managed by Gabelli Funds, LLC, an investment adviser affiliated with GAMCO Investors, Inc Its investment approach is associated with fundamental, value-oriented research and may include investments in U.S.

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