Gabelli Equity Trust (NYSE:GAB) Share Price Passes Above 50 Day Moving Average – Should You Sell?

Gabelli Equity Trust Inc. (NYSE:GAB)’s stock price passed 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 changing hands.

Gabelli Equity Trust Price Performance

The company has a 50 day moving average of $5.65 and a 200 day moving average of $5.71.

Gabelli Equity Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 10.5%. The ex-dividend date is Wednesday, September 16th.

Institutional Trading of Gabelli Equity Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Focus Partners Wealth acquired a new position in Gabelli Equity Trust in the first quarter valued at $121,000. Baird Financial Group Inc. increased its stake in Gabelli Equity Trust by 6.5% during the second quarter. Baird Financial Group Inc. now owns 32,548 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 2,000 shares during the last quarter. StoneX Group Inc. purchased a new position in shares of Gabelli Equity Trust in the 2nd quarter worth about $79,000. Cerity Partners LLC raised its holdings in shares of Gabelli Equity Trust by 29.1% in the 2nd quarter. Cerity Partners LLC now owns 306,890 shares of the financial services provider’s stock worth $1,786,000 after purchasing an additional 69,237 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in shares of Gabelli Equity Trust by 8.1% in the 2nd quarter. Raymond James Financial Inc. now owns 554,382 shares of the financial services provider’s stock valued at $3,227,000 after purchasing an additional 41,437 shares in the last quarter. 7.24% of the stock is currently 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.