Gabelli Equity Trust (NYSE:GAB) Sees Large Volume Increase – Should You Buy?

Shares of Gabelli Equity Trust Inc. (NYSE:GAB) saw unusually-high trading volume on Friday . Approximately 495,145 shares traded hands during trading, a decline of 2% from the previous session’s volume of 505,824 shares.The stock last traded at $6.1750 and had previously closed at $6.18.

Gabelli Equity Trust Stock Up 0.6%

The firm has a fifty day simple moving average of $6.06 and a 200-day simple moving average of $5.99.

Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 12th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date of this dividend is Friday, December 12th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV raised its holdings in Gabelli Equity Trust by 43.8% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 93,234 shares of the financial services provider’s stock valued at $568,000 after acquiring an additional 28,412 shares during the period. Larson Financial Group LLC acquired a new position in shares of Gabelli Equity Trust in the third quarter valued at approximately $34,000. Hilltop Holdings Inc. increased its stake in shares of Gabelli Equity Trust by 9.6% during the third quarter. Hilltop Holdings Inc. now owns 19,756 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 1,724 shares during the period. Elevation Point Wealth Partners LLC acquired a new stake in Gabelli Equity Trust during the 3rd quarter worth approximately $61,000. Finally, Bank of America Corp DE boosted its stake in Gabelli Equity Trust by 18.8% in the 3rd quarter. Bank of America Corp DE now owns 631,227 shares of the financial services provider’s stock valued at $3,844,000 after purchasing an additional 99,912 shares during the period. 7.24% of the stock is owned by institutional investors and hedge funds.

Gabelli Equity Trust Company Profile

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.