The Gabelli Equity Trust (NYSE:GAB) Shares Gap Down to $5.49

The Gabelli Equity Trust Inc. (NYSE:GAB)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $5.49, but opened at $5.33. The Gabelli Equity Trust shares last traded at $5.36, with a volume of 247,833 shares.

The Gabelli Equity Trust Stock Up 0.4 %

The stock has a fifty day moving average of $5.41 and a 200 day moving average of $5.41.

The Gabelli Equity Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 16th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 11.11%. The ex-dividend date of this dividend is Monday, September 16th.

Insider Activity

In other news, insider Mario J. Gabelli bought 11,750 shares of The Gabelli Equity Trust stock in a transaction that occurred on Wednesday, June 26th. The stock was bought at an average cost of $100.00 per share, with a total value of $1,175,000.00. Following the acquisition, the insider now owns 16,750 shares of the company’s stock, valued at approximately $1,675,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Virtu Financial LLC bought a new stake in The Gabelli Equity Trust during the fourth quarter valued at about $337,000. Cetera Investment Advisers grew its position in shares of The Gabelli Equity Trust by 1,196.4% during the first quarter. Cetera Investment Advisers now owns 449,417 shares of the financial services provider’s stock worth $2,481,000 after purchasing an additional 414,751 shares in the last quarter. Cullen Investment Group LTD. bought a new stake in The Gabelli Equity Trust during the 1st quarter valued at approximately $86,000. Avantax Advisory Services Inc. bought a new stake in The Gabelli Equity Trust during the 4th quarter valued at approximately $234,000. Finally, Jump Financial LLC purchased a new position in The Gabelli Equity Trust in the 4th quarter worth approximately $58,000. Hedge funds and other institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Company Profile

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.