Gabelli Equity Trust Inc. (NYSE:GAB – Get Free Report) reached a new 52-week low during trading on Thursday. The company traded as low as $5.26 and last traded at $5.2750, with a volume of 2300814 shares trading hands. The stock had previously closed at $5.32.
Gabelli Equity Trust Stock Performance
The firm has a 50 day simple moving average of $5.63 and a two-hundred day simple moving average of $5.61.
Gabelli Equity Trust Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date of this dividend was Wednesday, September 16th.
Institutional Investors Weigh In On Gabelli Equity Trust
A number of institutional investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC bought a new position in shares of Gabelli Equity Trust during the 2nd quarter worth approximately $36,000. Baird Financial Group Inc. bought a new position in shares of Gabelli Equity Trust in the second quarter valued at approximately $94,000. 1607 Capital Partners LLC purchased a new stake in shares of Gabelli Equity Trust during the second quarter valued at approximately $2,264,000. Old Mission Investment Co LLC purchased a new position in Gabelli Equity Trust in the second quarter worth $176,000. Finally, SMART Wealth LLC bought a new position in Gabelli Equity Trust in the 2nd quarter valued at $57,000. 7.24% of the stock is owned by institutional investors.
About Gabelli Equity Trust
Gabelli Equity Trust Inc is a diversified closed-end management investment company listed on the New York Stock Exchange under the symbol GAB. The fund seeks long-term growth of capital, with current income as a secondary objective, by investing primarily in a diversified portfolio of equity securities.
The portfolio may include common stocks and other equity investments in companies across a range of industries and geographic regions, including both the United States and international markets.
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