The Gabelli Equity Trust (NYSE:GAB) Hits New 12-Month High – Should You Buy?

The Gabelli Equity Trust Inc. (NYSE:GAB)’s stock price hit a new 52-week high on Monday . The company traded as high as $5.74 and last traded at $5.73, with a volume of 73325 shares traded. The stock had previously closed at $5.69.

The Gabelli Equity Trust Trading Up 1.1 %

The business has a 50-day moving average price of $5.47 and a two-hundred day moving average price of $5.43.

The Gabelli Equity Trust Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 13th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.43%. The ex-dividend date is Friday, December 13th.

Institutional Investors Weigh In On The Gabelli Equity Trust

Institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC grew its stake in The Gabelli Equity Trust by 466.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,301,030 shares of the financial services provider’s stock valued at $12,633,000 after purchasing an additional 1,894,854 shares during the period. Shaker Financial Services LLC grew its stake in The Gabelli Equity Trust by 413.3% in the 3rd quarter. Shaker Financial Services LLC now owns 652,653 shares of the financial services provider’s stock valued at $3,583,000 after purchasing an additional 525,502 shares during the period. Cetera Investment Advisers grew its stake in The Gabelli Equity Trust by 1,196.4% in the 1st quarter. Cetera Investment Advisers now owns 449,417 shares of the financial services provider’s stock valued at $2,481,000 after purchasing an additional 414,751 shares during the period. Commonwealth Equity Services LLC grew its stake in The Gabelli Equity Trust by 8.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,789,806 shares of the financial services provider’s stock valued at $14,507,000 after purchasing an additional 216,440 shares during the period. Finally, Advisors Asset Management Inc. bought a new position in shares of The Gabelli Equity Trust during the 1st quarter worth $716,000. Institutional investors own 7.24% of the company’s stock.

The Gabelli Equity Trust Company Profile

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.