Gabelli Equity Trust (NYSE:GAB) Shares Pass Below 200-Day Moving Average – Should You Sell?

Gabelli Equity Trust Inc. (NYSE:GAB)’s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.93 and traded as low as $5.55. Gabelli Equity Trust shares last traded at $5.5750, with a volume of 1,057,052 shares trading hands.

Gabelli Equity Trust Stock Up 1.4%

The company has a 50 day moving average of $5.58 and a 200-day moving average of $5.92.

Gabelli Equity Trust Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be issued a $0.15 dividend. The ex-dividend date is Monday, June 15th. This represents a $0.60 annualized dividend and a yield of 10.6%.

Hedge Funds Weigh In On Gabelli Equity Trust

Several large investors have recently made changes to their positions in GAB. Huntington National Bank purchased a new position in shares of Gabelli Equity Trust during the third quarter valued at approximately $30,000. Flagship Harbor Advisors LLC bought a new stake in shares of Gabelli Equity Trust during the fourth quarter valued at approximately $30,000. Commonwealth Retirement Investments LLC bought a new stake in shares of Gabelli Equity Trust during the fourth quarter valued at approximately $30,000. Geneos Wealth Management Inc. increased its position in shares of Gabelli Equity Trust by 200.0% during the second quarter. Geneos Wealth Management Inc. now owns 5,100 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 3,400 shares in the last quarter. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Gabelli Equity Trust during the first quarter valued at approximately $33,000. 7.24% of the stock is currently owned by hedge funds and other institutional investors.

About Gabelli Equity Trust

Gabelli Equity Trust, Inc (NYSE: GAB) is a closed-end management investment company focused on generating long-term capital appreciation through an actively managed portfolio of primarily U.S.-listed equity securities. Incorporated in Delaware, the Trust pursues a value-oriented approach, leveraging intensive fundamental research to identify small- and mid-cap companies with growth potential and favorable valuation metrics.

Since its initial public offering in 1977, the Trust has invested across a range of sectors, including consumer staples, financial services, industrials and technology, aiming to construct a high-conviction portfolio of companies expected to outperform over time.