Gabelli Equity Trust (NYSE:GAB) Share Price Breaks Above 50-Day Moving Average – Should You Sell?

Gabelli Equity Trust Inc. (NYSE:GAB)’s stock price passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $5.35 and traded as high as $5.39. Gabelli Equity Trust shares last traded at $5.3550, with a volume of 1,063,668 shares trading hands.

Gabelli Equity Trust Price Performance

The stock’s 50 day moving average price is $5.35 and its two-hundred day moving average price is $5.64.

Gabelli Equity Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were paid a $0.15 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $0.60 dividend on an annualized basis and a yield of 11.2%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. bought a new stake in Gabelli Equity Trust during the first quarter valued at about $33,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Gabelli Equity Trust in the second quarter valued at about $36,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Gabelli Equity Trust in the second quarter valued at about $44,000. Valeo Financial Advisors LLC acquired a new stake in shares of Gabelli Equity Trust in the third quarter valued at about $53,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Gabelli Equity Trust in the second quarter worth about $57,000. Institutional investors and hedge funds own 7.24% of the company’s stock.

Gabelli Equity Trust Company Profile

Gabelli Equity Trust Inc (NYSE: GAB) is a diversified, closed-end management investment company. The fund seeks long-term growth of capital, with income as a secondary objective, by investing primarily in a portfolio of common stocks and other equity securities.

The fund uses a value-oriented investment approach associated with Gabelli Funds, LLC, its investment adviser. Its portfolio may include companies across a range of industries and can contain both U.S. and international investments, providing shareholders with exposure to established and growth-oriented businesses in multiple sectors and geographies.

Gabelli Equity Trust was organized in 1986 and is managed by Gabelli Funds, an affiliate of GAMCO Investors.