Gabelli Equity Trust (NYSE:GAB) Stock Price Crosses Above Fifty Day Moving Average – Time to Sell?

by · The Cerbat Gem

Gabelli Equity Trust Inc. (NYSE:GAB – Get Free Report) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $6.05 and traded as high as $6.12. Gabelli Equity Trust shares last traded at $6.1150, with a volume of 268,488 shares trading hands.

Gabelli Equity Trust Stock Performance

The stock has a 50 day moving average price of $6.05 and a 200-day moving average price of $5.95.

Gabelli Equity Trust Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 12th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 9.8%. The ex-dividend date is Friday, December 12th.

Institutional Trading of Gabelli Equity Trust

A number of institutional investors have recently made changes to their positions in GAB. Cetera Investment Advisers grew its position in shares of Gabelli Equity Trust by 13.5% in the 1st quarter. Cetera Investment Advisers now owns 573,601 shares of the financial services provider’s stock worth $3,161,000 after buying an additional 68,157 shares during the last quarter. Kingstone Capital Partners Texas LLC raised its holdings in shares of Gabelli Equity Trust by 456,629.4% during the second quarter. Kingstone Capital Partners Texas LLC now owns 123,298,660 shares of the financial services provider’s stock valued at $674,594,000 after acquiring an additional 123,271,664 shares in the last quarter. Allworth Financial LP lifted its stake in Gabelli Equity Trust by 620.3% in the second quarter. Allworth Financial LP now owns 38,908 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 33,506 shares during the period. Midwest Trust Co bought a new stake in Gabelli Equity Trust in the second quarter valued at $307,000. Finally, Envestnet Asset Management Inc. increased its position in Gabelli Equity Trust by 761.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 457,149 shares of the financial services provider’s stock valued at $2,661,000 after purchasing an additional 404,110 shares during the period. Hedge funds and other institutional investors own 7.24% of the company’s stock.

About Gabelli Equity Trust

(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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