The Gabelli Equity Trust (NYSE:GAB) Shares Gap Down to $6.53

The Gabelli Equity Trust Inc. (NYSE:GABGet Rating) gapped down prior to trading on Wednesday . The stock had previously closed at $6.53, but opened at $6.31. The Gabelli Equity Trust shares last traded at $6.31, with a volume of 300 shares changing hands.

The Gabelli Equity Trust Trading Down 2.0 %

The business has a fifty day moving average of $6.25 and a 200 day moving average of $6.54.

The Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, September 16th will be given a $0.15 dividend. The ex-dividend date is Thursday, September 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.77%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. grew its stake in shares of The Gabelli Equity Trust by 79.9% during the first quarter. Salem Investment Counselors Inc. now owns 5,826 shares of the financial services provider’s stock worth $40,000 after buying an additional 2,588 shares during the last quarter. GHP Investment Advisors Inc. bought a new stake in The Gabelli Equity Trust during the first quarter valued at $60,000. Good Life Advisors LLC bought a new stake in The Gabelli Equity Trust during the second quarter valued at $69,000. Montz Harcus Wealth Management LLC bought a new stake in The Gabelli Equity Trust during the second quarter valued at $70,000. Finally, Virtu Financial LLC bought a new stake in The Gabelli Equity Trust during the first quarter valued at $78,000. 7.46% of the stock is currently owned by institutional investors and hedge funds.

About The Gabelli Equity Trust

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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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