Gabelli Equity Trust (NYSE:GAB) Reaches New 52-Week Low – What’s Next?

Gabelli Equity Trust Inc. (NYSE:GAB) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $5.27 and last traded at $5.2750, with a volume of 1079560 shares. The stock had previously closed at $5.50.

Gabelli Equity Trust Trading Up 1.6%

The firm has a 50-day simple moving average of $5.65 and a 200 day simple moving average of $5.63.

Gabelli Equity Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 11.2%. The ex-dividend date is Wednesday, September 16th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of GAB. Commonwealth Retirement Investments LLC purchased a new stake in Gabelli Equity Trust in the fourth quarter worth about $30,000. PNC Financial Services Group Inc. purchased a new position in shares of Gabelli Equity Trust during the first quarter valued at approximately $33,000. Integrated Wealth Concepts LLC purchased a new position in shares of Gabelli Equity Trust during the second quarter valued at approximately $36,000. Hilton Head Capital Partners LLC bought a new stake in shares of Gabelli Equity Trust in the 4th quarter worth approximately $42,000. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in shares of Gabelli Equity Trust in the 2nd quarter worth approximately $44,000. 7.24% of the stock is owned by hedge funds and other institutional investors.

Gabelli Equity Trust Company Profile

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.