The Gabelli Equity Trust (NYSE:GAB) Reaches New 52-Week Low – Time to Sell?

The Gabelli Equity Trust Inc. (NYSE:GAB)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $5.05 and last traded at $5.18, with a volume of 932833 shares. The stock had previously closed at $5.36.

The Gabelli Equity Trust Trading Down 5.9 %

The business has a fifty day simple moving average of $5.53 and a 200 day simple moving average of $5.51.

The Gabelli Equity Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 11.90%. The ex-dividend date of this dividend was Monday, March 17th.

Institutional Trading of The Gabelli Equity Trust

A number of institutional investors and hedge funds have recently modified their holdings of GAB. Wealth Enhancement Advisory Services LLC grew its position in shares of The Gabelli Equity Trust by 77.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 155,379 shares of the financial services provider’s stock valued at $853,000 after buying an additional 67,889 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in The Gabelli Equity Trust by 30.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 223,420 shares of the financial services provider’s stock valued at $1,202,000 after acquiring an additional 52,800 shares during the period. HighTower Advisors LLC grew its holdings in shares of The Gabelli Equity Trust by 13.3% during the third quarter. HighTower Advisors LLC now owns 84,531 shares of the financial services provider’s stock valued at $462,000 after purchasing an additional 9,914 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of The Gabelli Equity Trust during the 4th quarter worth approximately $58,000. Finally, Kera Capital Partners Inc. acquired a new stake in shares of The Gabelli Equity Trust in the 4th quarter worth about $569,000. 7.24% of the stock is 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.