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

Gabelli Equity Trust Inc. (NYSE:GAB)’s share price reached a new 52-week low during trading on Wednesday. The company traded as low as $5.13 and last traded at $5.1350, with a volume of 223,544 shares trading hands. The stock had previously closed at $5.19.

Gabelli Equity Trust Stock Down 1.3%

The firm has a fifty day simple moving average of $5.52 and a two-hundred day simple moving average of $5.57.

Gabelli Equity Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 11.7%. The ex-dividend date of this dividend was Wednesday, September 16th.

Institutional Trading of Gabelli Equity Trust

A number of institutional investors have recently bought and sold shares of the stock. Avidian Wealth Enterprises LLC lifted its stake in shares of Gabelli Equity Trust by 39.6% during the third quarter. Avidian Wealth Enterprises LLC now owns 35,603 shares of the financial services provider’s stock worth $187,000 after buying an additional 10,104 shares during the period. Valeo Financial Advisors LLC acquired a new position in shares of Gabelli Equity Trust in the 3rd quarter valued at $53,000. Integrated Wealth Concepts LLC acquired a new position in shares of Gabelli Equity Trust in the 2nd quarter valued at $36,000. Baird Financial Group Inc. acquired a new position in shares of Gabelli Equity Trust in the 2nd quarter valued at $94,000. Finally, 1607 Capital Partners LLC purchased a new position in Gabelli Equity Trust in the 2nd quarter worth $2,264,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

Gabelli Equity Trust Company Profile

Gabelli Equity Trust Inc is a diversified closed-end investment company listed on the New York Stock Exchange under the symbol GAB. The fund seeks long-term growth of capital and income by investing primarily in a portfolio of equity securities, including common stocks of companies across a range of industries.

The trust is managed by Gabelli Funds, LLC, an investment adviser affiliated with GAMCO Investors, Inc Its investment approach is associated with fundamental, value-oriented research and may include investments in U.S.