The Gabelli Equity Trust (NYSE:GAB) Sees Large Volume Increase – Should You Buy?

The Gabelli Equity Trust Inc. (NYSE:GAB) saw an uptick in trading volume on Monday . 491,562 shares traded hands during mid-day trading, a decline of 11% from the previous session’s volume of 554,239 shares.The stock last traded at $5.69 and had previously closed at $5.60.

The Gabelli Equity Trust Price Performance

The business’s 50-day moving average price is $5.53 and its 200-day moving average price is $5.52.

The Gabelli Equity Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 10.58%. The ex-dividend date is Monday, March 17th.

Institutional Trading of The Gabelli Equity Trust

A number of institutional investors have recently bought and sold shares of GAB. LPL Financial LLC boosted its stake in The Gabelli Equity Trust by 28.3% in the 4th quarter. LPL Financial LLC now owns 3,520,427 shares of the financial services provider’s stock worth $18,940,000 after purchasing an additional 776,591 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in The Gabelli Equity Trust during the 4th quarter valued at approximately $2,925,000. Raymond James Financial Inc. acquired a new stake in The Gabelli Equity Trust during the 4th quarter valued at approximately $2,614,000. Independent Advisor Alliance acquired a new stake in The Gabelli Equity Trust during the 4th quarter valued at approximately $1,978,000. Finally, Kera Capital Partners Inc. acquired a new stake in The Gabelli Equity Trust during the 4th quarter valued at approximately $569,000. 7.24% of the stock is currently owned by institutional investors and hedge funds.

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.