Gabelli Equity Trust (NYSE:GAB) Sees Large Volume Increase – Here’s Why

Shares of Gabelli Equity Trust Inc. (NYSE:GAB) saw unusually-strong trading volume on Wednesday . Approximately 1,613,088 shares traded hands during trading, an increase of 52% from the previous session’s volume of 1,062,227 shares.The stock last traded at $5.5450 and had previously closed at $5.63.

Gabelli Equity Trust Trading Up 0.6%

The stock’s fifty day moving average is $5.71 and its two-hundred day moving average is $5.97.

Gabelli Equity Trust Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 10.5%. The ex-dividend date was Tuesday, March 17th.

Institutional Trading of Gabelli Equity Trust

A number of large investors have recently added to or reduced their stakes in the business. Kiley Juergens Wealth Management LLC bought a new stake in Gabelli Equity Trust during the first quarter worth approximately $73,000. Northstar Group Inc. purchased a new position in Gabelli Equity Trust during the 1st quarter worth approximately $115,000. Janney Montgomery Scott LLC grew its position in Gabelli Equity Trust by 2.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 159,155 shares of the financial services provider’s stock worth $891,000 after purchasing an additional 3,255 shares in the last quarter. Silver Oak Securities Incorporated grew its position in Gabelli Equity Trust by 16.5% during the 1st quarter. Silver Oak Securities Incorporated now owns 19,808 shares of the financial services provider’s stock worth $111,000 after purchasing an additional 2,801 shares in the last quarter. Finally, World Investment Advisors purchased a new position in Gabelli Equity Trust during the 4th quarter worth approximately $511,000. 7.24% of the stock is currently owned by institutional investors.

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.