Gabelli Equity Trust (NYSE:GAB) Shares Cross Below 200 Day Moving Average – Should You Sell?

Gabelli Equity Trust Inc. (NYSE:GAB) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.11 and traded as low as $5.93. Gabelli Equity Trust shares last traded at $5.99, with a volume of 1,135,286 shares.

Gabelli Equity Trust Stock Performance

The business has a 50 day moving average of $6.17 and a 200 day moving average of $6.11.

Gabelli Equity Trust Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, March 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.0%.

Insider Activity

In other news, insider Mario J. Gabelli acquired 500,000 shares of Gabelli Equity Trust stock in a transaction that occurred on Friday, December 26th. The shares were acquired at an average price of $10.00 per share, with a total value of $5,000,000.00. Following the completion of the purchase, the insider owned 500,000 shares of the company’s stock, valued at approximately $5,000,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. LPL Financial LLC boosted its holdings in shares of Gabelli Equity Trust by 2.1% during the fourth quarter. LPL Financial LLC now owns 4,462,497 shares of the financial services provider’s stock worth $27,534,000 after purchasing an additional 93,789 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Gabelli Equity Trust by 1.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 1,516,560 shares of the financial services provider’s stock worth $9,357,000 after buying an additional 28,926 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in Gabelli Equity Trust by 1.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 1,280,478 shares of the financial services provider’s stock valued at $7,798,000 after buying an additional 22,200 shares during the period. Cetera Investment Advisers increased its stake in shares of Gabelli Equity Trust by 1.1% during the 4th quarter. Cetera Investment Advisers now owns 674,300 shares of the financial services provider’s stock valued at $4,160,000 after acquiring an additional 7,320 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Gabelli Equity Trust by 1.0% during the 4th quarter. Wells Fargo & Company MN now owns 641,300 shares of the financial services provider’s stock worth $3,957,000 after acquiring an additional 6,175 shares during the period. 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.