The Gabelli Equity Trust (NYSE:GAB) Sees Strong Trading Volume – Here’s Why

Shares of The Gabelli Equity Trust Inc. (NYSE:GAB) saw unusually-strong trading volume on Monday . Approximately 491,562 shares were traded during trading, a decline of 11% from the previous session’s volume of 554,239 shares.The stock last traded at $5.69 and had previously closed at $5.60.

The Gabelli Equity Trust Stock Down 1.8 %

The stock has a fifty day simple moving average of $5.54 and a 200-day simple moving average of $5.52.

The Gabelli Equity Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.60 annualized dividend and a dividend yield of 10.77%.

Hedge Funds Weigh In On The Gabelli Equity Trust

Large investors have recently bought and sold shares of the stock. Beacon Pointe Advisors LLC increased its holdings in shares of The Gabelli Equity Trust by 7.1% during the 4th quarter. Beacon Pointe Advisors LLC now owns 30,000 shares of the financial services provider’s stock worth $161,000 after purchasing an additional 2,000 shares during the period. Apollon Wealth Management LLC grew its position in The Gabelli Equity Trust by 31.2% during the fourth quarter. Apollon Wealth Management LLC now owns 15,170 shares of the financial services provider’s stock worth $82,000 after buying an additional 3,605 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in The Gabelli Equity Trust by 5.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 95,076 shares of the financial services provider’s stock valued at $512,000 after acquiring an additional 4,512 shares during the period. Thrivent Financial for Lutherans increased its stake in The Gabelli Equity Trust by 3.0% during the third quarter. Thrivent Financial for Lutherans now owns 163,220 shares of the financial services provider’s stock valued at $896,000 after acquiring an additional 4,703 shares during the period. Finally, Arete Wealth Advisors LLC raised its holdings in The Gabelli Equity Trust by 30.2% in the 4th quarter. Arete Wealth Advisors LLC now owns 20,280 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 4,707 shares in the last quarter. 7.24% of the stock is currently owned by institutional investors and hedge funds.

About The Gabelli Equity Trust

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.